LIC inks pact with JLI Insurance Brokerage company

MUMBAI: Life Insurance Corporation of India has signed a Memorandum of Understanding with JLI Insurance Brokerage Company that will allow the latter to sell LIC''s insurance products.
The MoU was signed by LIC chairman S B Mathur and JLI Insurance chief executive D Munshi, LIC said in a release.
JLI Insurance, an associate company of Frontier trading, has received in-principle approval from Insurance Regulatory and Development Authority (IRDA) to act as a composite broker for reinsurance and deal in life and non-life products, the release said.
The brokerage company has 21 offices in the country with team of 40 professionals for dealing in insurance products, it added.