Digital life insurance company Aegon Life has been acquired by Bandhan Financial Holdings.
As of this deal, Bandhan Financial Holdings (BFHL) is now a promoter of Aegon Life Insurance, a significant milestone for Aegon Life Insurance Company.
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In addition, the deal by BFHL ensures that Aegon Life’s legacy of innovation and customer-centric strategies will continue to thrive with a digital distribution network.
Furthermore, continuity will be maintained with regards to Aegon Life staff.
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, added: “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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