IndiaInsurance
29th March 2010, 12:20 PM
Reliance Life Insurance Co. Ltd., a unit of the Anil Dhirubhai Ambani Group controlled Reliance Capital, may sell a 26 percent stake to Zurich-based re-insurer Swiss Re for at least 7 billion rupees ($154.9 million), the Mint newspaper reported on Monday. Talks on the stake sale by the only private sector insurer in India that does not have an overseas stakeholder yet, have reached the final stage and an announcement is likely in April, the paper said citing three people familiar with the development. Indian laws allow a foreign entity to own up to 26 percent in a domestic insurance ...
More... (http://in.biz.yahoo.com/100329/50/bavb8g.html)
More... (http://in.biz.yahoo.com/100329/50/bavb8g.html)