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
Financial services major Reliance Capital group has begun talks to sell 26 per cent equity in its general insurance arm to a foreign partner, and is open to selling further stake in life insurance and mutual fund units.Â “We are in talks for sale of 26 per cent stake in general insurance business to a foreign strategic partner,” Reliance Capital CEO Sam Ghosh told in an interview. Read more
Reliance Life Insurance Company has posted an over three-fold surge in its net profit to Rs 31 crore for the quarter ended Â September 30.
The private sector insurer also saw its total funds under management grow by 16 per cent in the second quarter of current Â fiscal to Rs 19,417 crore, Reliance Life said in a statement. Read more