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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.

(This article was published in the Business Line print edition dated September 13, 2005)
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