The Centrum Group, controlled by former Standard Chartered Asia chief Jaspal Bindra, has obtained an insurance broking licence, a move seen as a possible precursor to the financial services organisation running a standalone insurance company through acquisition.
“We got into the insurance business in April 2016 as a composite corporate agent. The broking licence will help us expand our insurance business and we believe there is bright future for insurance and risk management advisory in India, an underpenetrated country,” said Jaspal Bindra, executive chairman, Centrum Group. “Once we strengthen our distribution network, we may think of floating a standalone business on insurance.”
