Money & Banking

Edelweiss Tokio gets R2 approval from IRDA

PTI Mumbai | Updated on April 18, 2011

Edelweiss Tokio Life Insurance Company Ltd has received the second stage R2 approval from the Insurance Regulatory & Development Authority (IRDA) to operate in the life insurance space.

The company is a joint venture between the Edelweiss Group, India’s leading diversified financial services conglomerate, and Tokio Marine, one of the world’s largest insurance groups based in Japan.

“We have secured the R2 approval from the regulator and now keenly await the Certificate of Registration (R3).

Thereafter, we plan to launch insurance products that will cater to the long-term savings and protection needs of the Indian consumers,” the Edelweiss Tokio Life Insurance Director, Mr Deepak Mittal, said in a statement here today.

Published on April 18, 2011

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