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Ageas
I don't think there is anything called work-life balance; it is only work-life integration, says Vignesh Shahane
This fund is designed to deliver returns by strategically investing in a diversified portfolio of listed companies spanning various market caps
Belgium-based Ageas Insurance International has completed the acquisition of a majority stake in its Indian joint venture Ageas Federal Life Insurance (AFLIC), picking up 25 per cent stake of IDBI Bank for Rs 580 crore. With this, it has become the first foreign partner in the Indian life insurance sector to own a majority stake of 74 per cent. In the non-life segment, it was Italy's financial services major Generali which raised its stake in Future Generali India Insurance to 74 per cent in May this year. Last fiscal, the Indian government allowed foreign players to raise their stakes in Indian joint venture insurance firms up to 74 per cent from 49 per cent earlier as a move to attract investment as well as to increase insurance penetration in the country. "Ageas completes the acquisition of a majority stake in the Indian life insurance joint venture Ageas Federal Life," Ageas said in a release. The global insurer said it has acquired the additional 25 per cent stake (from IDBI
The transaction is expected to be completed in Q2FY23, subject to regulatory approvals and satisfaction of the terms and conditions set out in the share purchase agreement.
The board of directors has approved to sell IDBI Bank's entire stake of 200 million equity shares in AFLI to Ageas pursuant to exercise of Call Option by Ageas.
With this, Ageas will hold 49% in the insurance venture, which is being rebranded as Ageas Federal Life Insurance Company
For West Indies, Gabriel picked three wickets while Chase and Joseph scalped two wickets each
Royal Sundaram is one of the top 10 players in the general insurance market with strong positions in motor and health insurance
Royal Sundaram is one of the top 10 players in the general insurance market with strong positions in motor and health insurance