Page 15 - Insurance Times Octoberr 2022

IDBI Bank completes sale "With this transaction, Ageas increases policyholders to enjoy liquidity from the
its interest in the joint venture that it end of 1st policy year thereby providing
of entire stake of Ageas
has operated to date together with them with necessary financial
Federal Life Insurance IDBI Bank and Federal Bank to 74 per assurance, as well as covering them
cent." suitably in the advent of any
Ageas Insurance International has
eventuality. It gives the required
completed the acquisition of a majority
Aditya Birla Sun Life cushion of a constant source of income,
stake in its Indian joint venture Ageas
Federal Life Insurance (AFLIC), picking Insurance launches ABSLI aiding the policyholder's goal of
creating a secure future and a
up 25 per cent stake of IDBI Bank for
Akshaya Plan
Rs 580 crore. comfortable lifestyle for themselves
Aditya Birla Sun Life Insurance, has and their loved ones. It is our constant
With this, it has become the first
launched a new-age savings solution endeavour at Aditya Birla Sun Life
foreign partner in the Indian life
ABSLI Akshaya Plan, a non-linked Insurance to help our customers with
insurance sector to own a majority
participating individual savings life a life cover while addressing their
stake of 74 per cent.
insurance plan offering immediate savings needs as well."
In the non-life segment, it was Italy's liquidity option through cash bonus
financial services major Generali which facility. This plan provides the benefit
Bajaj Allianz Life Insurance
raised its stake in Future Generali India of a comprehensive life insurance cover
Insurance to 74 per cent in May this and a regular source of income to emerges as the top riser
year.
ensure the fulfilment of your family's brand in Kantar BrandZ
Last fiscal, the Indian government growing needs.
top 75 Most Valuable
allowed foreign players to raise their
ABSLI Akshaya Plan enables the
stakes in Indian joint venture insurance Indian Brands 2022
policyholder to draw cash bonus from
firms up to 74 per cent from 49 per Bajaj Allianz Life Insurance emerged as
the end of first policy year, providing a
cent earlier as a move to attract the top riser brand across industries in
regular source of income.
investment as well as to increase the latest Kantar BrandZ India 2022
Furthermore, policyholders have the
insurance penetration in the country.
option to receive Cash Bonus (if Report. The Report features the Most
"Ageas completes the acquisition of a declared) in annual, semi-annual, Valuable Indian Brands based on
majority stake in the Indian life quarterly or monthly frequency and financial value and overall brand
insurance joint venture Ageas Federal the same shall be payable at the end contribution. This is the fourth time in
Life," Ageas said in a release. of the year, half-year, quarter or a row that Bajaj Allianz Life Insurance
month, as the case may be. has been featured in this prestigious list.
The global insurer said it has acquired
the additional 25 per cent stake (from Kamlesh Rao, MD & CEO, Aditya Birla The Company also moved up by 26
IDBI Bank) for a total cash consideration Sun Life Insurance, said, "ABSLI ranks in 2022, securing a strong 45th
of Rs 5.8 billion (EUR 73 million). Akshaya Plan will enable our position, and moving into India's top 50
The Insurance Times, October 2022 15