? Highlights from Insurance Sector
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Rishabh Surana
Ø PSBs are slowly exiting the insurance sector to focus on their core businesses. However, the exit process may not be smooth since finding a buyer has been a challenge for the exiting banks. Sources said there is a scramble to get a partner on board before they can exit. Ø IDBI Bank and LIC of India signed a bancassurance agreement under which the lender will offer LIC’s insurance products at its branches, the bank said in a statement.
Ø Private equity investor True North will buy Max India’s 51 percent stake in Max Bupa Health Insurance for Rs 511 crore. The transaction values Max Bupa at Rs 1,001 crore, and is expected to be completed in FY20.
Mayank Goyal
Do you think this will help LIC to raise their market share, again ? 😂 Mayank wrote:Do you think this will help LIC to raise their market share, again ?
😂 It is very difficult for LIC to increase it’s market share again in near future ; however it has acquired IDBI Bank and also signed a pact .
It will only be able to maintain it’s market share , but that too not for a long time ; since it need to dilute it holding again .
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