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SG Finserve Limited has incorporated a new wholly owned subsidiary, SG Insurance Brokers Limited. This new entity is set to engage in direct insurance broking for both general and life insurance. SG Insurance Brokers Limited has an authorized capital of Rs. 1 crore, with SG Finserve holding 100% of its shares. This move marks the company's expansion into the insurance sector, broadening its business offerings. The commencement of its broking operations is pending receipt of necessary approvals.