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Rediff.com  » Business » Nippon Life may buy 26% in Reliance Insurance

Nippon Life may buy 26% in Reliance Insurance

Last updated on: March 11, 2011 12:13 IST

Nippon Life may buy 26% in Reliance Insurance

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Japan's largest life-insurer, Nippon Life is eyeing 26 per cent stake in Anil Ambani-owned Reliance Life Insurance Co for $724 million, according to media reports.

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Image: Reliance Life Insurance Co.

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Nippon Life may buy 26% in Reliance Insurance

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However, both the companies have been tight-lipped about the deal. This deal is likely to be one of the biggest overseas investments by a Japanese insurer in Asia.

Reliance Capital has been in talks with investors for its life insurance venture.

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Image: Nippon Life office.

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Nippon Life may buy 26% in Reliance Insurance

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The deal pegs Reliance Life Insurance's value at $2.8 billion. The company has $3.76 billion assets under management.

Nippon Life Insurance, also known as Nissay has about 12 million policyholders in Japan.


Image: Reliance Life Insurance.

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