Aegon Life Insurance Company

Aegon Life Insurance Company
Private company
Industry Financial Services & Insurance
Founded 2008 (2008)
Headquarters Mumbai
Area served
 India
Key people
 Mr. Vineet Arora (CEO)
Products Insurance
Owner
  • Aegon N.V. (49%)
  • Times Group (Bennett, Coleman and Company) (44%)
Website www.aegonlife.com

Aegon Life Insurance Company (formerly known as Aegon Religare Life Insurance Company) is an Indian life insurance provider founded in 2008 with headquarters in Mumbai, offering individual and group insurance online and offline.

It is a joint venture between Dutch Aegon N.V., a multinational insurance, pensions and asset management company, and The Times Group (also called Bennett Coleman & Co. Ltd), one of India’s largest media conglomerates.[1]

Corporate history

In July 2006, AEGON and the Ranbaxy Group announced its intention to enter the insurance business in India. The partnership of AEGON, Religare & Bennett, Coleman & Company formed AEGON Religare Life Insurance Company Limited and launched in July 2008.

In 2015, Aegon increased its stake in the venture to 49% while Religare Enterprises announced it was exiting the venture[2][3] by selling its entire shareholding in the company, 44%, to Bennett, Coleman and Company, the holding company of the Times Group.[4] This led to the rebranding from Aegon Religare Life Insurance Company to Aegon Life Insurance Company.

Services

Aegon Life’s services include term life insurance, investment, savings and health. It has 25 products on the market, including group plans, a term plan specific to rural areas and various online products.

References

  1. ↑ "Aegon Religare Life Insurance renamed as Aegon Life Insurance". Economic Times. 7 December 2015.
  2. ↑ "BCCL to buy out Religare stake in life insurer". Business Standard. 13 May 2015.
  3. ↑ "Religare to exit life insurance venture with Aegon". The VCCircle Network. 26 September 2014.
  4. ↑ "BCCL to buy Religare's 44% stake in life insurer Aegon Religare". The VCCircle Network. 14 May 2015.
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