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February 11, 2016 8:18 AM ET

Insurance

Company Overview of IDBI Federal Life Insurance Company Limited

Company Overview

IDBI Federal Life Insurance Company Limited provides wealth management, protection, and retirement solutions in India. Its products include Childsurance, a savings protection insurance plan; Group Microsurance Plan, which provides life insurance cover to groups, such as micro finance institutions, self help groups, and NGOs; Incomesurance, a guaranteed money back insurance plan; Lifesurance, a savings insurance plan; Loansurance and Termsurance, the group insurance plan; and Wealthsurance Suvidha, a growth insurance plan. The company offers its products and services through a network of partner bank branches of IDBI Bank and Federal Bank, and a network of advisors and partners. IDBI Federal ...

First Floor, Tradeview

Oasis Complex

Kamala City

P. B. Marg, Lower Parel (West)

Mumbai,  400 013

India

Founded in 2007

Phone:

91 22 2490 8109

Fax:

91 22 2494 1016

Key Executives for IDBI Federal Life Insurance Company Limited

Chief Executive Officer and Whole-Time Director
Chief Financial Officer
Chief Operating Officer
Chief Marketing Officer and Chief Distribution Officer – West
Chief Distribution Officer of East & North
Compensation as of Fiscal Year 2015.

IDBI Federal Life Insurance Company Limited Key Developments

IDBI Plans To Sell Stake In Life Insurance JV

IDBI Bank is planning to sell 20% stake in IDBI Federal Life Insurance Company Limited for INR 800 crore, which will allow foreign partner Ageas to increase its stake as well as help the state-run bank bolster its capital, two people close to the development said. The process to sell the stake is expected to start in January, one of the people said. "As per the JV agreement, Federal Bank cannot come down below 20%, which means IDBI will have to sell 20% for Ageas to go up to 49%."

Ageas May Hike Stake In IDBI

ageas SA/NV (ENXTBR:AGS) may raise stake in IDBI Federal Life Insurance Company Limited. IDBI’s partner, Federal Bank Ltd. (BSE:500469) said that ageas may hike stake in IDBI to 49%. IDBI and Federal Bank are exploring the option of diluting their stake. Federal Bank’s Chief Executive Officer and Managing Director, Shyam Srinivasan told Press Trust of India, “Evaluation is going on. An independent third party agency is doing that. All aspects are being looked at for dilution of stake in favor of our foreign partner so that ageas could increase its stake up to 49%.” He also said that it is at very preliminary stage and nothing has been finalized and many things are to be looked at before reaching a decision.

IDBI Federal Life Insurance Appoints Vighnesh Shahane as the Chief Executive Officer and Whole-Time Director

IDBI Federal Life Insurance has announced the appointment of Vighnesh Shahane as the chief executive officer and whole-time director. With over 20 years of experience, Vighnesh has worked with leading financial organizations across geographies.

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