Federal Bank to Raise Stake in Ageas Federal Life Insurance to 30%
ECONOMY & POLICY

Federal Bank to Raise Stake in Ageas Federal Life Insurance to 30%

Federal Bank is set to strengthen its partnership with Ageas Federal Life Insurance (AFLIC) by increasing its stake in the private life insurer from 26 per cent to 30 per cent. The bank’s board has approved the execution of a binding Memorandum of Understanding (MoU) with Ageas Insurance International NV and AFLIC to acquire an additional 4 per cent equity stake, subject to regulatory approvals and customary conditions.

The acquisition, once completed, will reinforce Federal Bank’s long-term commitment to the life insurance sector, expanding its role in the growing industry. The move also aligns with Ageas Federal Life Insurance’s strategy to strengthen its distribution channels and enhance its presence in India’s evolving insurance landscape.

Commenting on the development, Jude Gomes, Managing Director (MD)and CEO of Ageas Federal Life Insurance, said, “We welcome this step by Federal Bank, which reflects the continued trust and confidence in our partnership and business growth potential. As we progress towards completing this transaction, we remain committed to strengthening our bancassurance-driven model, delivering customer-centric insurance solutions, and reinforcing our presence in India’s dynamic insurance sector.”

The transaction is subject to the execution of a Share Purchase Agreement (SPA) and requisite approvals from regulatory authorities. The development underscores the increasing strategic importance of bancassurance in India’s insurance sector, with Federal Bank further deepening its engagement in life insurance.

Federal Bank is set to strengthen its partnership with Ageas Federal Life Insurance (AFLIC) by increasing its stake in the private life insurer from 26 per cent to 30 per cent. The bank’s board has approved the execution of a binding Memorandum of Understanding (MoU) with Ageas Insurance International NV and AFLIC to acquire an additional 4 per cent equity stake, subject to regulatory approvals and customary conditions. The acquisition, once completed, will reinforce Federal Bank’s long-term commitment to the life insurance sector, expanding its role in the growing industry. The move also aligns with Ageas Federal Life Insurance’s strategy to strengthen its distribution channels and enhance its presence in India’s evolving insurance landscape. Commenting on the development, Jude Gomes, Managing Director (MD)and CEO of Ageas Federal Life Insurance, said, “We welcome this step by Federal Bank, which reflects the continued trust and confidence in our partnership and business growth potential. As we progress towards completing this transaction, we remain committed to strengthening our bancassurance-driven model, delivering customer-centric insurance solutions, and reinforcing our presence in India’s dynamic insurance sector.” The transaction is subject to the execution of a Share Purchase Agreement (SPA) and requisite approvals from regulatory authorities. The development underscores the increasing strategic importance of bancassurance in India’s insurance sector, with Federal Bank further deepening its engagement in life insurance.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement