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TATA AIA Life insurance today announced that AIA group has successfully completed the transaction to increase stake in the life insurance company to 49 per cent.
The company said in a statement, that following receipt of all necessary governmental and regulatory approvals AIA has successfully completed the transaction announced on December 7, 2015 to increase AIA Group’s stake in Tata AIA Life Insurance Company Limited, their Indian market joint venture, from 26 per cent to 49 per cent.
During FY16, TATA AIA saw a 136 per cent rise in new business premium collection to Rs 740.58 crore from Rs 313 crore during 2014-15.
AIA Group Limited and its subsidiaries comprise the largest independent publicly listed pan-Asian life insurance group.
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