Aditya Birla Capital mulls sale of insurance brokerage arm

The insurance firm is seeking to restructure its financial services business.

Billionaire Kumar Mangalam Birla, who controls Aditya Birla Capital, is considering the sale of its insurance brokerage unit as the group aims to restructure its financial services business, a report by Bloomberg said.

Citing sources, the report said that Aditya Birla Capital has been hosting talks with potential buyers about a sale of Aditya Birla Insurance Brokers Ltd.

The insurance brokerage firm is one of India’s largest composite insurers that offers both life and non-life policies.