News From Press IDBI Bank’s insurance JV sale not that easy

IDBI Bank’s insurance JV sale not that easy

Source: ET Dec 15, 2017

The uncertainty surrounding the future of IDBI Bank s casting a shadow on the proposed sale of its insurance joint venture with Federal Bank. According to the deal structure, IDBI Bank will offer exclusive bancassurance partnership for five years.

IDBI Federal Life Insurance, a JV between IDBI Bank, Federal Bank and Belgian Insurer Ageas, has appointed JP Morgan to sell 100 per cent stake in the life insurance company.

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