Monday, November 9, 2009

Bank of Baroda insurance JV to start ops by Dec - CMD

life insurance

MUMBAI (Reuters) - Bank of Baroda life insurance joint venture with Andhra Bank and U.K's Legal and General Group PLC will start operations from December, a top official said on Monday.

"We have got final approval from the insurance regulatory authority to start operations," Chairman and Manging Director M.D. Mallya toold reporters.

Bank of Baroda owns 44 percent, Andhra Bank holds 30 percent while the rest is owned by Legal and General in the JV, IndiaFirst Life Insurance Co Ltd.