BNP Paribas Cardif Proposes to Increase Stakes in SBI Life to 36%

State Bank of India (SBI) recently announced that BNP Paribas Cardif is interested in increasing the stakes in SBI Life Insurance from current 26% to 36%. With its JV partner increasing the shareholdings, SBI’s market share will reduce to 64% in the insurance venture. Ms. Arundhati Bhattacharya, Chairperson, SBI, said, “BNP Paribas Cardif is keen to increase their shareholdings by 10%. They have exercised their right to take an initiative in this regard.

Read more
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
+Tax benefit is subject to changes in tax laws. +Standard T&C Apply
++ Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

The valuation will be done now and within four months, the procedure will be completed. We may shortly launch an initial public offer.” 

With a nod to foreign direct investment (FDI) Bill from the Parliament in March 2015, now offshore companies can increase up to 49% their stakes in a JV. BNP Paribas Cardif will therefore monetize on this opportunity and increase its holdings in the SBI Life Insurance.

“We will encash the sale of our equity stake,” added Bhattacharya.

Moving forward, Insurance Australia Group (IAG), SBI’s general insurance partner, will also increase its shareholdings by purchasing SBI’s shares, this year. In this venture, IAG will increase it stakes to 49%, from the current 26%, diluting the 74% shareholdings of SBI.

“IAG will exercise its right to increase its shareholdings to 49%. Although the proceedings will take time, but valuation is underway,” said the SBI chief.

On Greece crisis, SBI Chief commented, “Since, India is minutely exposed to the Greek economy; the crisis will not affect us. Just because markets abhor uncertainty, it is what pulling the Sensex down. The moment the clouds of doubt will lift, the market will rebound in the bullish phase.”     

Source: This news was published on June 30, 2015 in thehindubusinessline.com under the title: “BNP Paribas Cardif set to hike stake in SBI Life to 36%”

Types of Term Plans


Life insurance articles

Recent Articles
Popular Articles
Post Office Gram Suraksha Scheme Calculator

27 Jun 2022

A Post Office Gram Suraksha Scheme calculator is a useful online...
Read more
What happens if you stop paying life insurance premiums?

03 Jun 2022

Buying the best life insurance plan is a wise and learned...
Read more
Postal life Insurance Tax Benefits

26 May 2022

Postal Life Insurance is the oldest life insurer in the country...
Read more
How to Download PLI Statement Online?

24 May 2022

PLI or Postal Life Insurance was an initiative originally...
Read more
Is Life Insurance an Investment?

24 May 2022

The thumb rule to building wealth is to invest your money in...
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However...
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15...
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s...
Read more
Surrender Value in Insurance
Have you bought a life insurance policy which is not as per your requirement? Are you planning to terminate the...
Read more
PLI Surrender Value Calculator
PLI Surrender Value Calculators have proven to be one of the simple tools for digitally savvy customers. PLI...
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL