Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it.
«IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely clear about promoting the insurance business. This augurs very well for the business and policyholders as IIHL has a very strong capital base and a solid global aspiration in BFSI space,» Reliance Nippon Life Insurance CEO Ashish Vohra told PTI.
Hinduja Group company IIHL is expecting to complete the acquisition of RCAP by next month nearly a year after the National Company Law Tribunal (NCLT) approved its rescue plan.
«Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are already in dialogue to strike a win-win deal for all stakeholders,» he said.
At the same time, he said, the company has started talks with other financial institutions as the regulation allows more than one such tie-up.
Web Development
12-Factor App Methodology: Principles and Guidelines
By — Prince Patni, Software Developer (BI, Data Science)
Design
Canva Magic Write: Ideas to Stunning Slides in No Time
By — Prince Patni, Software Developer (BI, Data Science)
Finance
Tally Prime & GST Accounting: Complete Guide
By — CA Raj K Agrawal,
