News From Press HDFC Life acquires Exide Life Insurance in Rs 6,687-crore deal

HDFC Life acquires Exide Life Insurance in Rs 6,687-crore deal

Source: Business Standard Sep 4, 2021

In one of the biggest deals in the insurance space, private sector life insurer HDFC Life on Friday announced it was acquiring a 100 per cent stake in Exide Industries-promoted Exide Life Insurance for Rs 6,687 crore, in a bid to enhance its proprietary channel. The acquisition will add about 40 per cent to HDFC Life’s agency business and 30 per cent to its agent base.

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