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INDIA-US JV DLF PRAMERICA LIFE TO START OPERATION BY SEPT.
NEW DELHI, July 1 Asia Pulse - DLF Pramerica Life Insurance Co Ltd (DPLI), a joint venture between country's leading realty player DLF Ltd (BSE:532868) and US-based Prudential Financial, would start its operation from September.
"We will start our business by September. We are in the process of getting regulatory clearance from the Insurance Regulatory Authority of India for our products," DPLI Chief Executive Officer Kapil Mehta said.
The company would begin its operation with a paid-up capital of Rs 1.1 crore (US$256,000). Of the total paid-up capital, DLF would contribute 74 per cent and remaining would come from its foreign partner Prudential Financial.
However, the paid-up capital is expected to go up to ...
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