IndiaInsurance
18th August 2009, 07:56 AM
After scrapping its earlier deal with US-based Travellers Group for setting a general insurance venture, LandT Finance Ltd, a 100% subsidiary of Larsen and Toubro Ltd (LandT), will not be partnering with any other entity to float the venture. Confirming the development, LandT CFO and the board member YM Deosthalee said, We will make the announcement to foray into general insurance business in the next few months. The capital for this business would be provided by LandT, he said. However, Deosthalee did not divulge the quantum of capital their proposed insurance business would initially require and the timing when LandT ...
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More... (http://in.biz.yahoo.com/090817/50/bau1sw.html)