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-Indian insurance regulator allows stake sale in IndiaFirst Life Insurance

Nov 20, 2018 - Global Banking News

Global Banking News - 20 November 2018

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Legal and General Group had earlier announced a plan to sell its 26 percent stake in the life insurer to Warburg Pincus for INR7.1bn.

The stake is to be sold by UK-based Legal and General Group to private equity firm, Warburg Pincus LLC. The insurer is a joint-venture between Bank of Baroda, Andhra Bank and Legal and General Group.

The Indian insurance regulator has given an in-pri...