AIA group to raise stake in Tata AIA Life Insurance to 49 per cent

AIA group  with  Monday said  It\'ll  raise stake  in the  life insurance venture  with  Tata group  to help  49 per cent  by the  existing 26 per cent.

AIA  will certainly  increase shareholding  in  Tata AIA Life Insurance Company,  an  joint venture  company  formed  coming from  Tata Sons  as well as   AIA,  from the  current level  connected with  26 per cent  to help  49 per cent  by the   exchange   of the  23 per cent stake  on the  company,  the  joint  report  said.

However, both  ones   products and services  did not disclose  the  financial details.

"The completion  of any   payment   is usually   title   to  securing  all   expected  regulatory  along with  governmental approvals,"  your own   report  said.

Tata AIA Life Insurance,  that will   started up  operation  inside  2001  provides   a good  wide  amount   regarding  life insurance  items   That  cover protection, savings  as well as   wealth creation needs.

Following, Parliament passing  ones  law  for  hike  with  foreign  straight  investment  in   private  insurance  providers   to be able to  49 per cent  before   your  year,  several  overseas partners have proposed  to  raise stakes  within   its  Indian joint ventures. Prominent names include Nippon  inside  Reliance Life Insurance, AXA  within  Bharti AXA Life Insurance, Bupa  throughout  Max BUPA health insurance along with  Sunlife Financial Inc  inside  Birla Sunlife.