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ING Vysya Life Insurance
Exide gets CCI nod for stake buy in ING Vysya Life Insurance
Fair trade regulator CCI has given the green signal to battery maker Exide Industries Ltd’s proposal to fully acquire ING Vysya Life Insurance Company, saying the deal will not adversely impact competition. Read more
Samsung Life Insurance eyes Pramerica stake in DLF JV
South Korea’s largest insurance company,Samsung Life Insurance is in talks with DLF -Pramerica to buy Pramerica’s 26% stake in the insurance joint venture to enter India. Even after the exit of ING from Indian insurance sector by selling off its 26% stake in joint venture ING Vysya Life Insurance, several foreign players are eying to enter India. Read more
Acquiring insurance partners’ stake will strain Exide’s core ops
Exide Industries Ltd’s decision to buy out the partner stake in its insurance joint venture ING Vysya Life Insurance Co will strain its core operations, said a report by brokerage firm Edelweiss Securities. Read more
ING exits life insurance business in India
The Netherlands-based ING recently said it will exit ING Vysya Life Insurance Company by selling its 26 per cent stake to domestic partner Exide Industries which will also buy another 24 per cent from two other promoters. Read more
IRDA collects Rs 2.5 cr penalty in June-Sept period
Insurance Regulatory and Development Authority (Irda) has collected a whopping Rs 2.56 crore as penalty in the June to September period. The insurance regulator had imposed penalties ranging from Rs 5 lakh to Rs 1.47 crore on insurance companies. On one instance, a penalty of Rs 15 lakh was imposed on Indusind Bank, which is the corporate agent of Cholamandalam MS General Insurance. Read more