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British Aviva increases its share in Indian life insurance company

The Indian market is of interest to leading insurance companies, including the British Aviva, which has increased its stake in the joint venture Aviva Life Insurance Company India Limited (ALICIL).
British Aviva increases its share in Indian life insurance company

The UkrStrakhovanie Internet resource is aware that after agreeing with Indian regulators and antimonopoly authorities, the British insurer has acquired another 25% share in a life insurance joint venture from Dabur Invest. Following the completion of an undisclosed deal, Aviva became the majority shareholder with a 74% stake.

“The deal allows Aviva to become a majority shareholder, strengthening its economic and operational control as it continues to transform business performance,” they commented in Aviva.

Let us remind you that Aviva announced the sale of its division in Vietnam as part of a strategy to exit unprofitable markets last December. According to the deal terms, the British insurer's share will be transferred to Manulife Financial Asia, which will enter into a new distribution agreement with Aviva Vietnam's bancassurance partner Vietinban.

Source: https://www.ukrstrahovanie.com.ua/news/britanskaya-aviva-uvelichila-svoyu-dolyu-v-sovmestnom-predpriyatii-v-indii

Photos are from open sources.

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