Aviva becomes the majority shareholder in its India joint venture

by Shrutee K 

New Delhi | 30 September 2022: Aviva plc (“Aviva”) today announces that it has acquired an additional 25% stake from Dabur Invest Corp. in its joint venture in India, Aviva Life Insurance Company India Limited (ALICIL). Following the stake acquisition, Aviva’s shareholding has increased to 74% in ALICIL.

The transaction allows Aviva to become the majority shareholder, increasing its economic and operational control as it continues to transform the performance of the business.

Aviva received approvals from the relevant competition and regulatory authorities.

About Aviva Life Insurance:Aviva Life Insurance Company India Limited is a joint venture between Dabur Invest Corp, one of India's oldest and most respected business houses, and Aviva International Holdings Limited, a UK-based insurance group. Aviva International has been associated with India since 1834.

Website:www.avivaindia.com

About Aviva Plc:Aviva Plc is the UK’s leading Insurance, Wealth & Retirement business. Operating in the UK, Ireland, and Canada, they also have international investments in Singapore, China, and India. Aviva Plc has been taking care of people for 325 years, in line with their purpose of being ‘with you today, for a better tomorrow’. As of June 2022, total Group assets under management at Aviva Group are £353 billion and the company’s Solvency II shareholder capital surplus is £10.3 billion.

For more details on Aviva Plc’s business, and how they help their customers, visit www.aviva.com/about-us