Shriram Chits to enter insurance market

By Our Staff Reporter

COIMBATORE, APRIL 14. Shriram Chits and Investments Ltd is poised to set up ``financial super markets'' so as to render all kinds of financial services to its subscribers. As part of this endeavour, the company has proposed to enter into the insurance market in a big way.

For making a foray into the insurance market, Shriram Chits is holding talks with certain leading insurance companies in the U.S., Australia and Indonesia, according to Mr. Narayan, regional manager, Shriram Chits and Investments, Chennai.

Addressing a press conference here, Mr. Narayan said the company had already enough expertise in the fields of general as well as life insurance, because it had quite a number of officials at the senior level who were earlier serving in the insurance companies.

And above all, the company's wide network of branches and the agents base would also be quite handy for carrying on the insurance business.

Mr. Narayan said the tie-up with the foreign insurance companies would probably be clinched by June. He also said that the company had entered into a strategic alliance with Citibank to market credit cards to the former's subscribers.

The company was also contemplating to enter into mutual funds, personal loans, housing loans, and car loans in a phased manner.

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Section  : Business
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