Bank is considering raising its holding in the life insurer to 30%, after RBI rule changes opened the door for larger bank investments in insurance companies.
The newly minted reinsurer generated ₹2.66bn in gross premiums in its first full quarter, highlighting early traction for Jio Financial's insurance partnership with Allianz.
Co-founded by former Tata AIG CEO Neelesh Garg, the Indian start-up is eyeing a broader product rollout, including commercial vehicle and group health offerings, in the coming months.
The incorporation of Mahindra Manulife Insurance marks an early step in the companies push to address India’s protection gap with a digital-first model.
Prudential’s planned acquisition of a 75% stake in Bharti Life Insurance will trigger regulatory requirements on its shareholding in ICICI Prudential Life Insurance.
