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This is an archive article published on January 8, 2003

IRDA nod to Sahara Group to enter insurance business

Insurance Regulatory and Development Authority (IRDA) has permitted Sahara Group to enter life insurance segment and issued 12 letters of in...

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Insurance Regulatory and Development Authority (IRDA) has permitted Sahara Group to enter life insurance segment and issued 12 letters of intent to insurance broking entities, including three having foreign equity stake, to conduct business in India.

The regulator has issued R1 permission to Sahara Group, indicating a nod to enter insurance business subject to meeting further regulatory requirements, taking the total number of players (life and general) to 26, IRDA chairman N. Rangachary told reporters at a seminar organised by the Bombay Chamber of Commerce and Industry on Tuesday.

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