Badhan Financial to purchase Aegon Life Insurance

This move will mark BFHL's entry into the life insurance sector in India.

Bandhan Financial Holdings Limited (BFHL) has reached a definitive agreement with Aegon India Holding and Bennett, Coleman & Company Limited for the complete acquisition of their shares in Aegon Life Insurance Company. 

The acquisition is subject to regulatory approvals and customary closing conditions.

After a competitive bidding process with various investors, BFHL emerged as the successful bidder to acquire Aegon Life.

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This move will mark BFHL's entry into the life insurance sector in India, expanding its existing presence in the banking and mutual fund sectors.

The agreement ensures the continuity of the current management team and employees at Aegon Life, supporting the company's strategy under BFHL's ownership.

Aegon Life is a digitally focused life insurance company, serving approximately 300,000 customers.