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May 29, 2015updated 13 Apr 2017 8:31am

Japan’s Tokio Marine to increase stake in Indian life insurance JV to 49%

Japan's Tokio Marine, the foreign partner of India-based Edelweiss Tokio Life Insurance, is reportedly planning to raise its stake in the joint venture from 26% to 49%.

By Verdict Staff

Edelweiss Tokio Life Insurance, which commenced operations in 2011, is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings.

dna analysis reported that the life insurer has already filed an application with the Foreign Investment Promotion Board (FIPB) in this regard.

The move is the latest in a series following the passing of the Insurance Laws (Amendment) Bill Parliament in March 2015 in India.

The bill seeks to raise foreign investment in private sector companies to 49% from the current 26%.

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