Bandhan to acquire Aegon Life Insurance
Upon completion, this will mark Bandhan Financial Holdings' foray into the country's life insurance sector in addition to their presence in banking and mutual fund sectors
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Kolkata Bandhan Financial Holdings Limited has entered into a definitive agreement with Aegon India Holding and Bennett, Coleman & Company Limited (BCCL) for acquisition of the entire shareholding of the two entities in Aegon Life Insurance Company Limited, a statement by it said on Tuesday.
Upon completion, this will mark Bandhan Financial Holdings' foray into the country's life insurance sector in addition to their presence in banking and mutual fund sectors, it said. The acquisition is subject to receipt of necessary regulatory approvals. Aegon Life, a digitally focused life insurance company serving around 300,000 customers, witnessed a competitive bidding process in which various investors participated.
