Kolkata, Sept. 12
THE Peerless General Finance and Investment Co has proposed to begin distribution of insurance in a big way. The companywill tap semi-urban markets, courtesy its infrastructure and agent network.
Peerless, a residuary non-banking company, has already made a foray into the area as a corporate agent of LIC and National Insurance.
Peerless, which had its 72nd AGM on Monday, hopes to present a strong case for relaxation and revision of the existing investment guidelines. The four subsidiaries of Peerless - Peerless Hospitex, Peerless Hotels, Peerless Developers and Peerless Securities - have restructured operations and are now implementing expansion programmes, Mr D.N. Ghosh, Chairman, said in his speech today.