Comments
Aviva Plc, today announced its plan to increase its stake in Aviva India to 49 per cent.
Aviva India is a joint venture insurance company between Dabur Invest Corp (DIC) and Aviva with the latter currently holding a 26 per cent stake in the venture.
"The increase of Foreign Direct Investment limits in India from 26 per cent to 49 per cent has made the Indian insurance market much more attractive. We intend to increase our stake in the Aviva India joint venture business. We are finalising our application to do this and expect to complete within the next 6 months", David McMillan, CEO Aviva Europe and India said in a statement.
India had recently amended its insurance law to enable foreign investors to hike their holding in Indian insurance
units to 49 per cent. The foreign investment cap was earlier pegged at 26 per cent.
srivats.kr@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.