Business

Aviva becomes the majority shareholder in its joint venture in India

Aviva International has been associated with India since 1834.

Aviva plc (“Aviva”) today announced that it has acquired an additional 25% investment in its joint venture in India, Aviva Life Insurance Company India Limited, from Dabur Invest Corp. (ALICIL).

Aviva’s stake in ALICIL has expanded to 74% following the acquisition.

Aviva will become the majority stakeholder, enhancing its economic and operational control as it works to transform the business’s performance.

Aviva received approvals from the relevant competition and regulatory authorities.

About Aviva Life Insurance:

Aviva Life Insurance Company India Limited is a joint venture between Dabur Invest Corp, one of India’s oldest and most respected business houses, and Aviva International Holdings Limited, a UK-based insurance group.

Aviva International has been associated with India since 1834.

About Aviva Plc

Aviva Plc is the UK’s leading Insurance, Wealth & Retirement business.

Operating in the UK, Ireland, and Canada, they also have international investments in Singapore, China, and India.

Aviva Plc has been caring for people for 325 years, in line with their purpose of being ‘with you today, for a better tomorrow’.

As of June 2022, total Group assets under management at Aviva Group are £353 billion, and the company’s Solvency II shareholder capital surplus is £10.3 billion.

This article was shared with Prittle Prattle News as a Press Release.
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