Prices Increasing soon Prices Increasing Soon

AEGON To Raise 49% Stakes Upon Religare‘s Exit from JV

The Dutch Insurer AEGON will continue to maintain its interests in the Indian Insurance sector despite its partner Religare Enterprises recent exit from the joint venture (JV).

Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Religare Enterprises recently sold its 44% stakes to Bennett, Coleman and Co (BCCL) while AEGON will move forward with its decisions to remain invested in the Indian Insurance sector by increasing its shares holding to 49%.

In the documents submitted by Religare to Bombay Stock Exchange, the company officials commented, “BCCL would obtain the whole 44% share holdings from Religare, while AEGON plans to augment its stake to 49% in the Indian Insurance JV firm.”

The officials further said, “The transaction is awaiting regulatory approvals from IRDA and CCI, FIPB.”

AEGON has joined the bandwagon of offshore insurance companies such as Bupa, Prudential (UK) and AXA (France). It will increase its current stakes from 26% to 49%, under the Foreign Direct Investment norms, laid down by the Indian government in the current FY.

The new partner in the Insurance JV – BCCL- also owns 30% stake in leading Indian Newspapers companies like The Economic Times and Times of India.  The financial details of the new partnership were however not disclosed. 

Despite the life insurance industry experiencing a slump of 5.84% in revenues from selling new policies worth Rs. 1,13,140 crore in previous FY 14-15,  AEGON Religare reported a 41% increment in their new business premium income worth Rs 207.5 crore as compared to the earlier Rs 147 crore in FY 2013-2014- as per the Life Insurance Council report.

AEGON Religare operates in India across 52 cities, with 67 branches, employee strength of 1,670, and serves 3.5 Lakh customers.

As per the latest industry reports, capital worth Rs 1,310 crore has been invested in the company by its promoters.

The JV began to operate in July 2008, and incurred a loss of Rs 34.16 crore, in the initial nine months, ending on December 31, 2014. However, the company is gaining a boost in its income with expanding customer base, despite the fact it takes 8-10 years for the Insurance companies to gain real profits.

Source: This news was published on May 13, 2015 in under the title: “Religare to exit from Aegon Religare Life Insurance”

Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
24 Apr 2024

Most Common Life Insurance Frauds in India

Life insurance fraud is a financial crime that can be committed

Read more
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High...

The best life insurance policy in India is a type of life

Read more
15 Dec 2021

Life Insurance for Parents in India

With the increase in the average life expectancy rate, the older population in India is on the rise. Most of the

Read more
08 Jun 2022

Life Insurance for NRI

Going beyond geographical boundaries to study or pursue a career abroad is a common aspiration for many

Read more
14 Apr 2014

Life Insurance Quotes

Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you

Read more
26 Dec 2022

Canara Guaranteed Fortune Plan

Canara HSBC life insurance company introduces a guaranteed fortune plan that provides assured benefits to life

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best decision I have ever made. I feel so good knowing that

Read more
Need Help? Request Callback
View Plans
Download the Policybazaar app
to manage all your insurance needs.