L&T likely to foray into insurance biz

Larsen & Toubro is likely to start its general insurance business in the first quarter of next fiscal and has got preliminary approval from the Insurance Regulatory & Development Authority (Irda). Irda member R Kannan told said the insurance watchdog has given its initial R1 approval to L&T and the company would take at least three-four months to start the venture. In its board meeting, Irda has given R1 approval to L&T for its general insurance venture, Kanan said. According to L&T senior vice-president (financial services) N Sivaraman, the venture would be operational in the first half of the next ...

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