After the regulations from the market regulator IRDA have directed the domestic market leader, Maruti Suzuki to rejig its insurance business, the company is very much busy aligning its venture.

While the company is still mid-way of dissolving and then merging its six wholly-owned subsidiaries into either the parent company or its brand new insurance subsidiary, IRDA has asked the company to change its status from an insurance broker.

The company is expecting to pump in an additional Rs. 50 lakh to establish a new insurance subsidiary, named Maruti Insurance Brokers Ltd. It may be noted here that the company is currently working as an agent for six insurance brokers in the Indian market, namely National Insurance, New India Assurance, Bajaj Allianz, Royal Sundaram, Iffco Tokio and ICICI Lombard.

It is believed that these six subsidiaries are working with a paid up capital of up to Rs. 15 lakh each. It may be noted here that the company started its insurance vertical somewhere around the year 2002. The company initially started with a group of three insurers but has extended to six over a period of time.