LIC, JLI Team Up For Product Sale

Mumbai, January 24: | Updated: Jan 25 2003, 05:30am hrs
Life Insurance Company of India (LIC) has tied up with with JLI Insurance Brokerage Company (JLI) to distribute its life insurance products through the network of JLI. With this agreement, JLI becomes the first brokerage company to get into such a pact with LIC.

A memorandum of association (MoU) to this effect was signed on Friday between LIC chairman, SB Mathur and JLIs chief executive officer, Dilip B Munshi.

JLIan associate company of frontier tradingwhich deals with therapeutic magnetic products and herbal care products has already got an in-principle approval from the Insurance Regulatory and Development Authority (Irda) to work as a composite broker. Composite brokers are going to handle reinsurance and deal in life and non life insurance products.