AIA group confirms increasing its stake in Tata AIA Life

AiA Group confirms increasing stake in Tata AIA Life group

 

COMPANY

Tata AIA Life

COMPANY TYPE

Unlisted

INDUSTRY

BFSI

SECTOR

Insurance (Life Insurance)

CITY (TARGET)

Mumbai

COUNTRY (TARGET)

India

 

 

ACQUIRER

AIA Group

ACQUIRER COMPANY TYPE

Listed

INDUSTRY (ACQUIRER)

BFSI

 

CITY (ACQUIRER)

Shanghai

COUNTRY (ACQUIRER)

China

 

The deal between Tata AIA Life and AIA Group l involved increasing AIA Group’s shareholding in Tata AIA Life Insurance Company from the current level of 26% to 49%. For the September 2015 quarter, target recorded a PAT of INR 34 Cr, compared with INR 218crore in the year-ago period. For the April September 2015 period,Tata AIA Life collected total premiums of INR 972 crore compared to INR 918 crore collected in the same period a year ago.

The deal between AIA Group and Tata AIA life was valued at $305 million which was finalized in the month of December 2015

Source: http://www.livemint.com/Companies/wcew2nCZAhgZkpHSCOPxfM/AIA-to-raise-stake-in-Tata-AIA-Life-Insurance-to-49.html http://economictimes.indiatimes.com/news/economy/finance/nippon-life-aia-sun-life-12-other-fdi-proposals-cleared/articleshow/51505004.cms