Financial Daily from THE HINDU group of publications
Friday, Feb 03, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 03, 2006 |
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Money & Banking
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Life Insurance AMP Sanmar Life is now Reliance Life Our Bureau
Hyderabad , Feb. 2 CONSEQUENT to the acquisition by Reliance Capital Ltdof the entire equity capital of AMP of Australia and Sanmar Group in AMP Sanmar Life Insurance Co Ltd , the Insurance Regulatory and Development Authority (IRDA) has taken note of the change of company name, `AMP Sanmar Life Insurance Co Ltd', to that of Reliance Life Insurance Co Ltd (RLICL) and the fresh certificate of incorporation consequent to change of name issued by the Registrar of Companies, Tamil Nadu, dated January 17. The insurance regulator said it had permitted RLICL to carry on life insurance business in India subject to the condition that RLICL should honour its commitments to the policyholders of AMP Sanmar Life Insurance on the same terms and conditions subject to which they were issued. Further, the regulator said in a notice here that RLICL should take necessary steps to protect the interests of the policyholders in accordance with the provisions of IRDA Act 1999, and Insurance Act 1938.
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