Indian joint venture for insurance firm

Tue, 06 Mar 2007

The well-known insurance company Prudential Financial Inc. is planning to start a life insurance company in India .

Prudential are going into business with a real estate development company based in New Delhi. The firm, DLF Group, will hold a 74 per cent stake in the company that is to be known as the DLF Pramerica Life Insurance Co.

There is currently no fixed date for the start of business, but the two partners are planning to commence operations in the next few months, assuming they receive regulatory approval. Pramerica is not an entirely new name, being used by Prudential in some foreign countries to sell their life insurance products.

The move by the company represents the expanding markets in India and China, and how keen companies in America are to enter these markets.
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