Company Overview of IDBI Federal Life Insurance Company Limited
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
P. B. Marg, Lower Parel (West)
Mumbai, 400 013
Founded in 2007
Key Executives for IDBI Federal Life Insurance Company Limited
Chief Executive Officer and Whole-Time Director
Chief Marketing Officer and Chief Distribution Officer – West
Chief Distribution Officer of West & East
Compensation as of Fiscal Year 2016.
IDBI Federal Life Insurance Company Limited Key Developments
FB Seeks To Sell Stake In IDBI Federal Life Insurance
Feb 17 16
Federal Bank Ltd. (NSEI:FEDERALBANK) considering reducing or divesting its stake in IDBI Federal Life Insurance Company Limited. FB is in talks with IDBI Bank Limited (BSE:500116) and ageas SA/NV (ENXTBR:AGS), its partners in IDBI Federal Life Insurance Company Limited and is open to the option of bringing down or divesting its stake in IDBI Federal life Insurance, Federal Bank Managing Director and Chief Executive Officer Shyam Srinivasn told Cogenics. "That's an option. Everything depends on whether it makes sense commercially. We could stay invested and do it long term. we could divest and have the same distribution arrangements," he said.
IDBI Plans To Sell Stake In Life Insurance JV
Dec 21 15
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
May 20 15
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.
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