Nippon Life may buy 26% in Reliance Insurance
Last updated on: March 11, 2011 12:13 IST
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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Nippon Life may buy 26% in Reliance Insurance
Last updated on: March 11, 2011 12:13 IST
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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Nippon Life may buy 26% in Reliance Insurance
Last updated on: March 11, 2011 12:13 IST
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.
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