Cigna, a health services company, and TTK Group, an Indian conglomerate, have signed a joint-venture agreement to sell a range of health, wellness and insurance products across India. Cigna says the agreement makes the insurer the first to apply for entry into India as part of a stand-alone, joint-venture health insurance company.
Cigna and TTK are seeking approval from India's Insurance Regulatory and Development Authority and plan to submit a comprehensive filing early next year, says Cigna. Full license to operate would not be expected until 2013, and financial terms of the agreement were not disclosed.
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