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Ebix, BSE JV gets approval to launch insurance distribution in India

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Ebix, BSE JV gets approval to launch insurance distribution in India

Ebix Inc.'s joint venture with the Bombay Stock Exchange has secured approval to act as a direct insurance broker under the Insurance Regulatory and Development Authority of India (Insurers Brokers) Regulations of 2018.

BSE Ebix Insurance Broking Pvt. Ltd. will allow distribution outlets, wealth management advisers and point-of-sale persons to sell life and nonlife insurance products. The joint venture will use the reach of BSE and EbixCash, Ebix's Indian subsidiary, and cover the entire insurance lifecycle.