Axis Bank Acquires Additional Stake in Max Life Insurance for ₹336 Crore Board Approval Axis Bank’s Board of Directors, through its Acquisitions, Divestments, and Merger Committee, approved the acquisition of an additional stake in Max Life Insurance. The proposal, approved on June 19, 2024, involves an investment of ₹336 crore, increasing Axis Bank’s shareholding in…
RBI Approves Zurich Insurance’s Acquisition of 70% Stake in Kotak General In a significant development in the insurance sector, the Reserve Bank of India (RBI) has given its nod to Zurich Insurance Group’s acquisition of a 70% stake in Kotak Mahindra Bank’s general insurance arm, Kotak General Insurance. This move marks a crucial milestone in…
PNB Board Approves 10% Stake Dilution in Canara HSBC Life Insurance via IPO The board of Punjab National Bank (PNB) has given the green light for the dilution of a 10% stake in Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd (Canara HSBC Life) through an Initial Public Offering (IPO). This decision marks…
Bharti Enterprises Sells ICICI Lombard Shares for ₹663 Crore: Transaction Overview In a significant financial move, Bharti Enterprises, a prominent player in various sectors including telecom and agri-business, has sold its shares in ICICI Lombard General Insurance Company Limited. The transaction amounted to a staggering ₹663 crore. This deal marks a strategic shift in the…
HDFC Life Leadership Transition: Keki Mistry Appointed Chairman In a significant leadership transition, HDFC Life, one of India’s leading life insurance companies, announced the appointment of Keki Mistry as its Chairman. This move comes as a part of the company’s strategic restructuring to reinforce its governance and leadership structure. Mistry, who brings with him a…
Star Health Insurance and PhonePe Partnership: Revolutionizing Health Insurance Access In a groundbreaking move, Star Health Insurance has teamed up with PhonePe, a leading digital payments platform in India, to enhance accessibility to health insurance. This collaboration aims to streamline the process of purchasing health insurance policies and making premium payments, thereby revolutionizing the landscape…
FSIB Announces New Leadership for GIC RE and NIC New Leadership for GIC RE | In a significant development, the Financial Stability and Insurance Board (FSIB) has recently announced new leadership appointments for two crucial organizations, namely GIC Re and NIC. This move holds great importance in the context of government exams, especially for positions…
ICICI Prudential Life Insurance Signs Suryakumar Yadav for a New Campaign ICICI Prudential Life Insurance has announced that they have signed Suryakumar Yadav, the Indian cricketer, as their brand ambassador for a new campaign. The campaign will aim to highlight the importance of financial planning, protection, and the role of life insurance in securing one’s…
