Bandhan co new promoter of Aegon Life – Times of India

MUMBAI: Bandhan Financial Holdings has acquired the stakes of Aegon India Holding and Bennett, Coleman & Co. Ltd. (BCCL) in Aegon Life Insurance – making it the new promoter.
The management team and staff of Aegon Life will remain unchanged. Bandhan Financial Holdings MD Karni Singh Arha said the transaction strengthens Bandhan’s goal of making formal financial services accessible to the masses. Aegon Life MD and CEO Satishwar B said, “The synergy between our tech-centric operations and Bandhan’s extensive distribution capabilities will expand the reach of our innovative insurance solutions across the nation.” BCCL is the publisher of TOI.
Bandhan Financial Holdings’s acquisition marks the group’s entry into the Indian life insurance sector, complementing its existing presence in banking and mutual funds, and aligns with its vision to build a financial services conglomerate that addresses the diverse needs of Indian consumers, the company said.