Private sector general insurer L&T Insurance on Tuesday said it plans to launch 10 products in the small and medium enterprises (SME) and home space soon. We have got regulatory approval for SME and home products, L&T Insurance chief executive officer Joydeep Roy said here. The company proposes to launch six home insurance products and four in the space of SME, he said, adding they will be rolled out in due course of time. The company has tied up with FINISH (Financial Inclusion Improves Sanitation and Health), a public-private partnership company for distribution of its micro insurance products. Under the partnership, FINISH, supported by Dutch government, would train the employees of its micro insurance partner or NGO for distribution of two micro health insurance products in the three identified states. These states are Maharashtra, Rajasthan and Orissa. Cash hospital micro-insurance and medi-sure micro insurance would be offered under the programme, Roy said.
Fitch rates JLRs $500-m notes BB-
Fitch Ratings on Tuesday assigned Jaguar Land Rover Automotive PLCs (JLR) $500-million senior unsecured notes, at a coupon rate of 5.625%, a final rating of BB-. The ratings are constrained by JLRs limited product portfolio, its shorter operating history and lower volumes compared with more established and highly rated premium car manufacturers, said the rating agency in a release on Tuesday. The prevailing weak global economy may also pose a challenge in maintaining volume growth over the next one to two years, the agency said.
RBI to buy R10k cr of govt bonds
The Reserve Bank of India will purchase government bonds worth R10,000 crore through an auction under open market operations on February 15, RBI said in a release. RBI will buy four bonds through the auction. Last week, deputy governor HR Khan had reiterated that the central bank is open to bond purchases under OMO if liquidity situation warrants the same.