Chennai: Insurance Regulatory and Development Authority (Irda) will give licences to 4 new insurance companies to begin operations before the end of the current financial year. Of the four insurers, three will be life insurance companies, and one, a non-life insurance company Bharati AXA General Insurance Company. Irda, said the regulatory authority has given licences to six companies so far in the current financial year. The life insurance companies are Aegon Religare Life Insurance Company, Canara HSBC OBC Life Insurance, and DLF Pramerica Life Insurance Company. Total premium collected by the insurance industry from April 2007 to January 2008 stood at Rs 8,6381.59 crore, compared to Rs 74,153.71 crore a year earlier.
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