Aegon Life Insurance Co. transferred the shareholding of Aegon India Holding B.V. and Bennett, Coleman and Co. Ltd. to Bandhan Financial Holdings Ltd.
This transaction makes Bandhan Financial Holdings the promoter of Aegon Life Insurance, as mentioned in the press release.
Through the acquisition, Bandhan Financial Holdings will ensure that Aegon Life's legacy of innovation and customer-centric approaches will continue to thrive with a well-established life insurance platform, according to the statement.
Further, the acquisition will mark the entry of the Bandhan Group into the Indian life insurance sector, along with its presence in banking and mutual funds.
"We deeply appreciate Aegon Life's digital capabilities and its experienced management team and together we look forward to leveraging their digital strength with Bandhan's distribution expertise to grow this business," said Karni Singh Arha, managing director of Bandhan Financial Holdings.
Aegon Life is a digital life insurance company that pioneered the online term insurance plan in India. The company is building innovative solutions to financially secure every Indian household.
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