AEGON Religare Life gets initial Irda nod

AEGON Religare Life Insurance Company, a joint venture between Netherlands-based AEGON and Religare, has received the initial approval - R1 licence - from Insurance Regulatory & Development Authority (Irda).

The R1 licence from Irda is the first of the three steps in the registration process.

"We are extremely pleased to have received the initial approval. We hope to get the subsequent approvals soon. We are here for the long-term, and look forward to serving the interest of the Indian consumer. We have plans to start with a large footprint going well beyond tier-I cities across the country," said Rajiv Jamkhedkar, CEO, AEGON Religare Life Insurance.