Aviva increases stake in Indian subsidiary; buys additional 23% from Dabur

Aviva purchased an additional 23% share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp

Aviva increases stake in Indian subsidiary; buys additional 23% from Dabur
Aviva increases stake in Indian business. Photo: Reuters

Insurer Aviva said on Tuesday it had purchased an additional 23% share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp.

The acquisition, which takes Aviva's stake to 49%, followed a recent regulatory change in India. It will have a neutral impact on Aviva's net assets, the company said in a statement.

Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015 and 4 million pounds to profits, it added. 

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Updated: Tue, May 03, 2016
01:01 PM IST
New Delhi, Reuters
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