Financial Daily from THE HINDU group of publications
Sunday, Oct 17, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 17, 2004 |
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Money & Banking
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Insurance First Insurance kicks off operations Our Bureau
Mr B. Ramachandra Adityan (left), Director, Tamil Nadu Mercantile Bank, and Mr V. Jagannathan, CMD, United India Insurance Co Ltd, at the inauguration of First Insurance World Broking Services Private Ltd in Chennai on Saturday. — Shaju John
Chennai , Oct. 16 UNITED India Insurance's Chairman-cum-Managing Director, Mr V. Jagannathan, on Saturday formally kicked off First Insurance World Broking Services' operations. First Insurance is an insurance broker empanelled with 10 general insurance companies and six life insurance companies. The company's Executive Director, Mr Akkshay M. Nahar, said it aimed to generate revenue of Rs 1-2 crore in about two years. Mr Nahar said First Insurance's target clientele would be small and medium enterprises. Companies such as Thomson and Medopharm have joined up as clients. Though insurance regulations allow brokers to charge a fee for handling claims-related work, First Insurance would not levy a fee for the service at present, he said.
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