Question

Which entity has achieved the distinction of becoming the initial Indian life insurance company to attain a 74% foreign shareholding?

A Bajaj Allianz General Insurance Co. Ltd. Correct Answer Incorrect Answer
B ICICI Lombard General Insurance Co. Ltd. Correct Answer Incorrect Answer
C IFFCO-Tokio General Insurance Co. Ltd. Correct Answer Incorrect Answer
D Ageas Federal Life Insurance Co. Ltd. Correct Answer Incorrect Answer
E United India Insurance Co. Ltd. Correct Answer Incorrect Answer

Solution

Ageas Federal Life Insurance (AFLI) announced that after Belgium-based Ageas Insurance International successfully acquired the 25% investment in the life insurance joint venture (JV) from IDBI Bank, it has become the first life insurance firm in India with a 74% stake held by a foreign partner.

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