Date:07/12/2007 URL: http://www.thehindu.com/2007/12/07/stories/2007120754321900.htm

Business - Briefly

BOI, Union Bank float life insurance co.

NEW DELHI: Bank of India and Union Bank on Thursday floated a life insurance company by signing an agreement with Dai-Ichi Mututal Fund Company of Japan. In the new venture, Bank of India will have 51 per cent stake, Dai Ichi 26 per cent and Union Bank the balance.