Dai-ichi to invest $100 Mn in India's insurance sector

Wednesday, 22 August 2007, 07:00 Hrs
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New Delhi:Japan's Dai-ichi Mutual Life Insurance Company will invest $100 million in India's insurance sector, the company said here Wednesday.

"We are planning to invest $100 million in India's insurance sector," Tomijiro Morita, chairperson of the board of Dai-ichi Mutual Life Insurance Company, told IANS on the sidelines of the India-Japan Business Leadership Forum.

"This is a growing market and the insurance segment is emerging fast here than anywhere," Morita, who is also the vice-chairperson of the Japan Business Federation, added.

Dai-ichi Mutual Life Insurance Company is the second largest insurer in Japan and the sixth largest in the world.

Last year, the company forged an alliance with Bank of India and Union Bank of India to form a new life insurance company.

The Tokyo-based $28.9 billion Dai-ichi also has operations in Vietnam.
Source: IANS
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