Dabur ties up with U.K. insurance firm

By Our Special Correspondent

NEW DELHI, JAN. 10. CGNU, the largest insurance company in the U.K. and sixth largest insurer in the world, has tied up with the Dabur group to develop a life insurance business in India. A memorandum of understanding was signed by the two companies for this joint venture that will have 26 per cent equity by CGNU as per the law and the balance 74 per cent will be held by the Burman family of the Dabur group.

Mr. Rohit Burman, who is leading the Burman family initiative in the insurance sector, said Dabur India, the flagship of the group, would not invest in this venture and would continue to focus on the core areas of health, personal care and foods. He clarified that the Burman family would be entering the insurance business through other Dabur group companies. The joint venture with CGNU would be known as Dabur CGU Life Insurance Company Ltd., Mr. Burman said.

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Section  : Business
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