BSE-Ebix launches JV to set up insurance distribution platform
India’s oldest stock exchange Bombay Stock Exchange signed a memorandum of understanding with the world’s largest insurance exchange Ebix to launch a joint venture company dedicated to set up a pioneering insurance distribution network in India.
BSE Investments Limited (BIL) is a wholly-owned subsidiary of BSE, while Ebix Fincorp Exchange is a wholly-owned subsidiary of Ebix will launch the new venture branded as BSE-Ebix to set up an insurance distribution exchange platform. The joint venture enterprise will allow distribution of outlets, stock brokers, wealth management advisors and financial institutions across life and non-life product segments.
On Thursday, BSE Limited was trading at Rs. 987.95 per share on NSE at 1515 hours IST. The stock witnessed a traded volume of 55,490 shares and a traded value of Rs. 545.89 lakh on NSE. BSE Limited that made its stock market debut earlier this year had hit its all-time high of Rs. 1,200 per share on February 3, 2017 and 52-week low of Rs. 886.50 per share on March 3, 2017 on NSE, respectively.