Syndicate Bank plans to venture into the life insurance space and has shortlisted Aviva Life Insurance, Birla Sun Life Insurance and Reliance Life Insurance for this purpose. Apart from these 3 domestic insurance companies, the bank has also shortlisted Avantha Ergo which is a foreign insurer.

“The process is on. We are evaluating both brownfield and greenfield options. What we want is an efficient partnership. We don't want to use our capital to acquire a majority stake,” said a senior...  Read More »

Reliance Life Insurance has announced the induction of Mr. Takeshi Furuichi as a Non executive Director and Nippon nominee on the Board of the company. Reliance Life Insurance, started operations in 2005, after the acquisition of life insurance company AMP Sanmar in 2001.
 

Last month, Reliance Capital announced completion of its 26% stake sale in Reliance Life to Japan’s Nippon Life Insurance. The company has received the entire transaction proceeds of Rs 3,062 crore (USD 680 million) from...  Read More »

Reliance Capital announced completion of the transaction for sale of 26% stake in Reliance Life Insurance Company to Nippon Life Insurance Company.

The completion of this long-awaited foreign direct investment (FDI) deal between Anil Ambani led Reliance Life and Japan-based Nippon Life was announced on Sunday. The company statement said, “The entire transaction proceeds of Rs 3,062 crore ($680 million) from Nippon Life Insurance have duly been received.”

In the month of March, Reliance...  Read More »

Reliance Capital announced that it has received in-principle approval from the Insurance Regulatory and Development Authority (IRDA), for the proposed 26% stake sale of Reliance Life Insurance to the Japanese insurer Nippon Life.

The deal between Reliance Life Insurance Company and Nippon Life Insurance has been pending for quite some time because of the regulatory hurdles. As per agreement between the two, Nippon Life will make a huge investment of Rs 3,062 crores for 26% stakes in the...  Read More »

Reliance Life Insurance has received the government’s approval for selling 26% of its stakes to Nippon Life Insurance.

Anil Dhirubhai Ambani led Reliance Life Insurance Co has been awaiting approval for the largest Foreign Direct Investment (FDI) deal pegged at about Rs 3062 crore (US $ 680 million). Nippon Life Insurance Company is the largest private life insurer in Japan and Asia, and the 6th largest life insurer in the World.

The deal has between the two has been pending since a few...  Read More »

Anil Ambani led Reliance Capital is in talks with private-sector and state-run lenders to sell 23% stakes in their life insurance venture. For selling the stakes in the insurance business, the company is negotiating with Syndicate Bank, Axis Bank and a few others.

Reliance Life Insurance, a part of Reliance Capital, started operations in 2005. The insurer caters to the life insurance needs of customers with a range of products including child plans, traditional plans, unit-linked insurance...  Read More »

Reliance Life Insurance had earlier announced that they would pay Rs. 25,000 for every six scored during the World Cup 2011. This money will be used to promote literacy amongst under-privileged children.

 
The semi-final match between India and Pakistan which will be played in Mohali today however has raised the stakes for this campaign. In addition to their contribution for every six scored, Reliance Life Insurance will pay Rs. 25,000 for every four hit by any player.

This donation drive...  Read More »

Just ten days ago, Reliance Life announced that Nippon Life has signed an agreement to buy 26 per cent stake in the Indian insurance company subject to necessary approvals. The deal however has hit a roadblock which is the ’10-year in existence clause’.

Although the Japanese insurance company Nippon Life has completed over a century in existence, Reliance Life has not quite completed ten years in operations yet, which is a pre-requisite before they can offload their 26 per cent stake. Under...  Read More »

Japan’s largest insurer Nippon Life Insurance has signed a definitive agreement to buy a 26 per cent stake in Anil Ambani led Reliance Life Insurance Company.

Nippon Life also known as Nissay has been in operations for 121 years. It is the largest private life insurer in Japan and Asia, and the 6th largest life insurer in the World. The Japanese insurer will invest Rs 3062 crore (US $ 680 million) to acquire the strategic stake.

Reliance Life Insurance is a part of Reliance Capital. The...  Read More »

Reliance Life had entered into an agreement with Room to Read, a charitable organization, to donate Rs 25000 for every six scored during the World Cup 2011.

Amongst the Indian cricket players, Sachin Tendulkar, who completed his 48th one day century, has hit 8 sixes in the World Cup Match. So far, Sachin is the highest contributor for the literacy drive followed by Virender Sehwag who has scored 7 sixes. With Reliance Life Insurance  shelling out Rs 25,000 for every six that a player hits,...  Read More »