Aegon Religare gets R1 license from IRDA

New Delhi, Apr 1 (UNI) Aegon Religare Life Insurance Company Ltd, a joint venture between AEGON and Religare, has received the initial approval - R1 license, from the Insurance Regulatory and Development Authority (IRDA) to operate in the Life Insurance space.

The R1 license from the IRDA is the first of the three steps in the registration process, the company said in a statement.

''We are extremely pleased to have received the initial approval and hope to get the subsequent approvals soon. We have plans to start with a large footprint going well beyond Tier-I cities across the country,'' said CEO, AEGON Religare Life Insurance Rajiv Jamkhedkar.

AEGON is one of the world's largest life insurance and pension companies and is a strong provider of investment products, with an active presence in more than 20 countries, with major operations in the US, the Netherlands and the UK.

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