Reliance Life Insurance, the country’s fourth largest private life insurer, wants to expand overseas. To begin with, Reliance wants to set up branch offices in the Middle East, but the plan is to tap countries with a large Indian workforce. The state-owned Life Insurance Corporation of India is the only player with offices and subsidiaries outside the country. Reliance has approached Insurance Regulatory and Development Authority to guide its overseas expansion plans as there are no regulations regarding the same as of now.
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