Bandhan Financial Holdings acquires Aegon Life

Aegon Life, a digital life insurance company, has announced the transfer of the shareholdings of Aegon India Holding B.V. (“Aegon”) and Bennett, Coleman & Company ("BCCL”) to Bandhan Financial Holdings (BFHL).

With this, Bandhan Financial Holdings is now a promoter of Aegon Life Insurance, according to company statement.

Karni Singh Arha, Managing Director, BFHL, said, “India’s life insurance market, given its size and potential, is crucial to becoming a diversified financial services group. Given Bandhan’s focus of making formal financial services available to masses, this acquisition further enhances that endeavour. We deeply appreciate Aegon Life’s digital capabilities and its experienced management team and together we look forward to leveraging their digital strength with Bandhan’s distribution expertise to grow this business.

Satishwar B., MD and CEO, Aegon Life, said, “This marks an exhilarating new beginning - 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. As we join the Bandhan family, we extend heartfelt thanks to Aegon and BCCL for their unwavering support, and we eagerly anticipate a future filled with exciting possibilities."

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