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Indian bourse, Ebix target 2018 launch for insurance platform JV

Indian stock exchange BSE Ltd. and U.S.-based insurance exchange Ebix Inc. plans to launch an insurance distribution exchange platform by the end of 2018, the Press Trust of India reported June 12, citing Ashishkumar Chauhan, managing director and CEO of the Indian bourse.

The platform will be managed by a joint venture to be called BSE-Ebix Insurance Broking. It will enable distribution outlets, stock brokers, wealth management advisers and financial institutions to sell life and nonlife insurance products.

The plan is subject to regulatory approval.

Chauhan said BSE is also expected to launch its commodity trading platform by year-end.