Real estate giant DLF today announced its tie-up with US-based financial player Prudential Financial, Inc (PFI) for a foray in life insurance business and said the two partners will invest about Rs 1,000 crore over the next ten years in the venture.The company is applying for a licence from the Insurance Regulatory and Development Authority (IRDA), and hopes to start operations by early 2008.
A DLF spokesperson said both the partners would have representatives on the board, while Prudential would take care of the operations.
Read more in The Business-Standard article.
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