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AIA to increase stake in Tata AIA Life Insurance Company

India Blooms News Service | | Dec 07, 2015, at 04:51 pm

# Tata AIA Life Insurance Company # Tata Sons and AIA Group Limited

Mumbai/Kolkata, Dec 7 (IBNS) Tata Sons and AIA Group Limited (AIA) Monday announced an agreement, under which AIA will increase its shareholding in Tata AIA Life Insurance Company, a joint venture company formed by Tata Sons and AIA, from the current level of 26 per cent to 49 per cent through the purchase of a 23 per cent stake in the company.

The completion of the transaction is subject to securing all necessary regulatory and governmental approvals.

Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, owned by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s expertise and presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

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