The Competition Commission of India (CCI) approves the acquisition of Ageas Federal Life Insurance Company Limited by Ageas Insurance International NV. The proposed combination relates to the acquisition of a further stake in Ageas Federal Life Insurance Company Limited (AFLI) by Ageas Insurance International NV (the acquirer).
Ageas is the ultimate holding company of the Ageas Group, an international insurance group with business activities in Europe and Asia. The products and services offered by the Ageas Group globally include life insurance products, general non-life insurance products, reinsurance services and the distribution of insurance products.
AFLI is engaged in providing life insurance products in India in the category of Term Plan, Child Plan, ULIP Plan, Savings Plan, Retirement Solution, Health Plan, Group Plan, Online Plans etc. Ageas currently holds 49% stake in AFLI and jointly manages the operations AFLI along with other shareholders i. e. IDBI and Federal Bank.
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