BSE-Ebix JV to seek IRDAI's nod for insurance distribution

India's leading stock exchange BSE Ltd's joint venture (JV) with US based insurance exchange Ebix will seek approval from the Indian insurance regulator for rolling out of its insurance distribution venture, the BSE chief said here on Saturday. "We have tied up with Ebix, a US based insurance exchange and we have taken permission from Securities Exchange Board of India (Sebi) for setting up a subsidiary for the insurance distribution. In fact, we have formed a joint venture with Ebix and the JV company is in the process of preparing application for seeking approval from Insurance Regulatory Development Authority of India (IRDAI)," BSE's MD and CEO Ashish Kumar Chauhan said.

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