Which private sector bank sold its stake to Ageas Insurance, which led to the new brand named Ageas Federal Life Insurance?
Private sector bank of India, IDBI Bank has completed the sale of 23 per cent stake in IDBI Federal Life Insurance Company Ltd (IFLI) to Ageas Insurance International.
With the deal amounting Rs 507 crore, Ageas will hold 49 per cent stake in the insurance company, while IDBI will hold 21 per cent. The company is now rebranded as Ageas Federal Life Insurance Company.