ING Life India to infuse Rs 240 crore more for expansion

ING Life India, part of the ING Group, on Thursday said it will infuse fresh capital of Rs 240 crore in FY11 to fund further expansion. ING Life had already drawn up plans to infuse a capital of over Rs 1,200 crore, but now the board has decided to pump in the additional amount to take the total investment up to Rs 1,467 crore this fiscal. The company, which entered the private life insurance industry in India in September 2001, plans to grow its business by five times in the next five years. Over the last 18 months, we had ...

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