India Infoline gets IRDA nod for insurance broking business

MUMBAI: Leading financial services provider, India Infoline, has received the in-principle approval for its insurance broking business from the Insurance Regulatory and Development Authority (IRDA).

Following this, the group is set to start the insurance broking business through its broking subsidiary, India Infoline Insurance Brokers Limited, a company release said here today.

The company is the largest corporate agent for leading private-sector life insurer, ICICI Prudential Life, and has assisted over 3 lakh people to avail the insurance cover, India Infoline Group's Chairman, Nirmal Jain, said.

"The license will enable India Infoline to offer customers a broad range of products from multiple Life as well as non-Life Insurance companies.." Jain said.

The company has a network of 758 business locations spread over 346 cities across the country and caters to a customer-base of over 8-lakhs customers, the company said.