New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
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