Larsen & Toubro is likely to tie up with Zurich-headquartered Swiss Re, a global reinsurer, for a joint venture in health insurance. Over the last couple of years, L&T has strengthened its presence in the highly
competitive financial services space through acquisitions of asset management companies, and forays into insurance and housing finance.
Swiss Re will pick up 26% stake in the proposed JV, which will be the international reinsurer's second attempt to foray into highly attractive Indian insurance market,' a source said.
However, the memorandum of understanding ( MoU) for the health insurance partnership is yet to be announced by both the players. Earlier in 2009, Swiss Re's tie up with Religare, an NBFC, for a similar health insurance JV, was called off.
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competitive financial services space through acquisitions of asset management companies, and forays into insurance and housing finance.
Swiss Re will pick up 26% stake in the proposed JV, which will be the international reinsurer's second attempt to foray into highly attractive Indian insurance market,' a source said.
However, the memorandum of understanding ( MoU) for the health insurance partnership is yet to be announced by both the players. Earlier in 2009, Swiss Re's tie up with Religare, an NBFC, for a similar health insurance JV, was called off.
....more info