By IANS,
Chennai : The Insurance Regulatory and Development Authority (IRDA) has given the green signal to the Mumbai-based Rajan Raheja Group to enter the general insurance segment.
Group company Prism Cement Ltd and Australian QBE Insurance Group have floated a joint venture, Raheja QBE General Insurance Co, for this.
The Indian group is already present in the life insurance sector through group company Exide Industries Ltd, which holds a 49.13 percent in the Bangalore-based ING Vysya Life Insurance Co Ltd.
With this, the total number of general insurers in India has gone up to 21.
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