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Mumbai, July 9

The Mumbai-based broking firm India Infoline has received insurance broking licence from the insurance regulator IRDA. “Our life insurance distribution business has witnessed high growth rates, and has been built on strong foundations of customer service, training of our sales force and our investment advisory capabilities,” said Mr Nirmal Jain, Chairman, India Infoline group. “Though insurance penetration has increased to over 4 per cent of GDP, given in adequate social security on one hand and high savings rate on other, we expect the industry to maintain the growth rates in medium term as well,” said Mr Jain.

— Our Bureau

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