BNP to take bancassurance route for insurance re-entry
MUMBAI: When SBI Life launched operations with the country's first bancassurance-led business model, it was powered by its JV partner BNP Paribas ' insurance arm Cardif. Now the French insurer's aim is to replicate the same model in IndiaFirst Life Insurance through its partners Bank of Baroda and Union Bank.
Last weekend, BNP Paribas Cardif entered into a definitive agreement to acquire about a 26% stake in IndiaFirst Life Insurance from Warburg Pincus , marking the private equity firm's exit from the life insurer, with the deal value undisclosed and the deal being subject to regulatory approvals.
Last weekend, BNP Paribas Cardif entered into a definitive agreement to acquire about a 26% stake in IndiaFirst Life Insurance from Warburg Pincus , marking the private equity firm's exit from the life insurer, with the deal value undisclosed and the deal being subject to regulatory approvals.
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