Aegon Life Insurance Company

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Aegon Life Insurance Company
Private company
IndustryFinancial Services & Insurance
Founded2008 (2008)
Headquarters
Area served
India
Key people
Mr. Vineet Arora (CEO)
ProductsInsurance
Owner
  • Aegon N.V. (49%)
  • Times Group (Bennett, Coleman and Company) (51%)
Websitewww.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[edit]

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.

References[edit]

  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.