Aviva

Aviva reportedly preparing to sell its 26% stake in India JV

Aviva reportedly preparing to sell its 26% stake in India JV

Aviva Plc is reportedly in search of a buyer for its stake its stake in Aviva Life - an insurance joint venture with India's Dabur Group.

Aviva owns 26 per cent stake in Aviva Life, while the remaining 74 per cent stake in the insurance joint venture is owned by the Dabur Group.

At current price of Aviva Life shares, Aviva Plc's stake is worth more than $500 million.

Sources, with direct knowledge of Aviva Plc's plans, revealed that the company was in the process of appointing corporate advisers to find buyers for its stake.

Aviva to hire 1,500 sales managers in 7 months

Aviva to hire 1,500 sales managers in 7 monthsAviva Life Insurance, leading private sector insurer has unveiled it plans to hire about 1,500 sales managers and 13,000 agents in the coming seven months in order to drive business growth.

During the first three month period of the current fiscal, company's new business has witnessed a slump of 19% compared to the similar period year ago.

HDFC Bank-CBoP Merger Echoes In Insurance Sector

HDFC Bank-Centurion merger will be a big blow to Aviva Life Insurance.

Under bancassurance pact, Aviva products will be sold by CBoP, while HDFC Bank sells insurance for its division, HDFC Standard Life.

As per existing insurance laws, a bank can’t sell products for more than one insurance company.

CBoP is one of the largest institutional distributors for Aviva, HDFC Bank, on the other hand, is one of the largest insurance distributors for HDFC Standard Life.