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Tuesday, Sep 13, 2005

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Peerless to tap rural markets for insurance

Our Bureau

Kolkata , Sept. 12

THE Peerless General Finance and Investment Co has proposed to begin distribution of insurance in a big way. The companywill tap semi-urban markets, courtesy its infrastructure and agent network.

Peerless, a residuary non-banking company, has already made a foray into the area as a corporate agent of LIC and National Insurance.

Peerless, which had its 72nd AGM on Monday, hopes to present a strong case for relaxation and revision of the existing investment guidelines. The four subsidiaries of Peerless - Peerless Hospitex, Peerless Hotels, Peerless Developers and Peerless Securities - have restructured operations and are now implementing expansion programmes, Mr D.N. Ghosh, Chairman, said in his speech today.

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