Aviva looks to ‘transform’ Indian business with majority stake acquisition

UK-based global insurer Aviva has become the majority shareholder in its Indian joint venture Aviva Life Insurance Company India (ALICIL).

The company has acquired an additional 25% stake from Dabur Invest Corp. in its joint venture in India ALICIL. Following the stake acquisition, Aviva’s shareholding has increased to 74% in ALICIL.

The transaction makes Aviva the majority shareholder, increasing its economic and operational control as it looks to “transform the performance of the business”.

Aviva confirmed that it has received approvals from the relevant competition and regulatory authorities for the stake acquisition.

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