Lenders to debt-ridden Reliance Capital have allowed Aditya Birla Capital to place its bid to acquire a stake in Reliance Nippon Life Insurance Company (RNLIC), sources said. RNLIC is a subsidiary of debt-ridden...
Irdai grants approval to merger of Exide Life into HDFC Life
New Delhi, Insurance sector regulator Irdai has granted final approval to HDFC Life Insurance Company Ltd (HDFC Life) to merge Exide Life into the company. In January this year, HDFC Life acquired 100 per cent stake in...
Axa might invest at least $98 million in Italy’s MPS
French insurer Axa is considering investing at least 100 million euros ($97.99 million) in a new share sale by Monte Dei Paschi di Siena (MPS) without any changes to its joint venture with the Tuscan bank, two people...
Medi Assist to acquire Medvantage Insurance TPA
Medi Assist, the country’s leading health insurance third party administrator (TPA), is set to acquire 100% stake in Mumbai-based Medvantage Insurance TPA, one of the oldest TPAs that manages marquee corporate...
Piramal, Zurich Insurance mull joint bid for Reliance General Insurance
Piramal Group and Zurich Insurance plan to form a joint venture for taking over Reliance General Insurance, a subsidiary of debt-ridden Reliance Capital undergoing a resolution process. Both Piramal and Zurich, which...
Insurance industry will continue to see M&A deals, new entrants
Merger and acquisitions will continue to be a part and parcel of the insurance sector, which is a highly capital intensive sector and can accommodate new entrants with specialised skill sets having long-term vision. The...
NCLT approves merger of Exide Life with HDFC Life, holds 4.1% stake HDFC
The National Company Law Tribunal (NCLT) on Friday approved the merger of Exide Life Insurance with HDFC Life Insurance. The Scheme of Amalgamation was approved by the Mumbai bench of NCLT, HDFC Life Insurance said in a...
Abrdn to sell stake in India’s HDFC Life for at least $305 million via block trade
British asset manager abrdn plc will sell a stake of about 2% in Indian insurer HDFC Life Insurance Company through a block trade on Tuesday, according to a document seen by Reuters. The offer is priced at 564.1-578.55...
ADIA to invest Rs 665 cr in Aditya Birla Health Insurance for 9.99% stake
The boards of Aditya Birla Capital and Aditya Birla Health Insurance have approved a proposal of capital infusion to the tune of Rs 665 crore in the later from a subsidiary of Abu Dhabi Investment Authority (ADIA), the...
Bank of Baroda to divest up to 12.5% stake in insurance arm IndiaFirst
Bank of Baroda will divest up to a 12.5% stake in the insurance arm IndiaFirst Life Insurance Company through an offer for sale in the initial public offer (IPO) of the insurer or any other mode. The Bank’s board...
ADIA eyes stake in Aditya Birla’s health insurance business
Abu Dhabi Investment Authority (ADIA) is in talks with Aditya Birla Group to invest around Rs 1,200-1,500 crore in the Indian conglomerate’s health insurance arm as growth equity, people in the know said. Aditya Birla...
Exor completes PartnerRe sale, bolsters coffers for acquisitions
Exor said it had completed the sale of reinsurer PartnerRe to France’s Covea, providing a multibillion-euro war chest for acquisitions for the holding company of Italy’s Agnelli family. Exor said in a...
