The insurer plans to redeploy proceeds from about US$25bn in cross-shareholding sales, as Japanese regulators press major carriers to cut legacy equity stakes and improve capital efficiency.
Market Lane's deal with ARAG comes less than two months after the latter announced it would withdraw from Australia due to unmet business expectations.
The proposal would mark India's third FDI liberalisation in a decade, potentially reshaping insurer joint ventures and aligning with the government's “Insurance for All by 2047” goal.
