LIC gets clearance to perform business in Bangladesh

Q.  Which insurance company of India has got a clearance to do business in Bangladesh?
- Published on 13 Jun 15

a. Bajaj Allianz
b. Reliance Insurance
c. LIC
d. Oriental Insurance Company

ANSWER: LIC
 
LIC will start business as the joint venture entity called LIC Bangladesh Ltd with a paid-up capital of 1 billion Takas with LIC holding half of it. Bangladesh has over 77 local insurance companies in the market, the only other foreign insurance company is a US-based company which operates as a branch office, and not as a registered company.

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