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  • News From Press IRDA gives R1 nod to ITI for reinsurance business

    IRDA gives R1 nod to ITI for reinsurance business

    Source: Economic Times Jul 1, 2016

    The insurance regulator has given the first level approval to ITIBSE 1.23 %, a company owned by Sudhir Valia, for reinsurance business. Valia is the brother-in-law of billionaire Dilip Shanghvi, the promoter of Sun Pharma


    The reinsurance market in India is estimated to be $2billion. ITI Investment is a subsidiary of Fortune Financial Services, which is controlled by Valia. 
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