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Religare plans to exit from AEGON Religare Life Insurance

Religare plans to exit from AEGON Religare Life Insurance
Last Updated: May 13, 2015 | 514 Views
Religare Enterprises plans to exit the life insurance joint venture AEGON Religare Life Insurance Company (ARLI) by selling its stake to existing partner Bennett, Coleman and Company Ltd (BCCL). Religare holds 44% equity in the Joint Venture, which would soon be acquired by BCCL. 

In line with the new FDI caps in the insurance sector, AEGON would increase its stake in the joint venture to 49% from existing 26%. This transaction is yet to be finalized as it is awaiting regulatory approvals of CCI, FIPB and IRDAI. 

AEGON Religare, a life insurance joint venture between AEGON, Religare and Bennett, Coleman & company, launched its pan-India operations in 2008. ARLI offers life insurance plans consisting of Term Plans, Savings Plans, Child Plans, Health Plans and Unit-linked plans. Religare Enterprises Limited (REL) is the holding company for one of India's leading diversified financial services groups, based out of New Delhi.  

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