A year after September 11 when Old Mutual Plc had put all its expansion plans on hold, it has now decided to look at the Chinese life insurance market.
At the same time, however, this entity with 133 billion pounds worth of assets under management, has put its expansion plans for the Indian financial market on the back burner.
The UK-based life insurance company, which has partnered with Kotak Mahindra Finance to establish OM Kotak Mahindra Life Insurance Company, had plans for establishing an asset management company in India, either with its life insurance partner or buying controlling stake in another AMC.
Hasan Askari, OM Kotak Mahindra Life vice chairman said that while Old Mutual has the funds to invest, it wants controlling stake.
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