Edelweiss Tokio Life Insurance has been granted FIPB approval for increasing Tokio Marine’s stake to 49 per cent in the Joint venture.
The company is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings.
Tokio Marine currently owns 26 per cent. The increase in Tokio Marine’s stake to 49 per cent in the joint venture will lead to fresh issue of Foreign Direct Investment into the company.