AIA group gets CCI nod to buy 23 pc more in Tata AIA Life

Fair trade regulator CCI today approved AIA group's 23 per cent additional stake purchase in its life insurance joint venture with the Tata group.
AIA, which holds 26 per cent stake in Tata AIA Life Insurance Company, will raise it to 49 per cent with the acquisition.
However, while announcing the deal in December last year, the company did not disclose the financial details.
In a tweet, the Competition Commission of India (CCI) said it "approves acquisition of additional 23 per cent shares in Tata AIA Life Insurance Company Ltd by AIA International Ltd".
Tata AIA Life Insurance, which started operations in 2001, offers a wide array of life insurance solutions that cover protection, savings and wealth creation needs.

Many overseas partners have proposed to raise stakes in their Indian joint ventures after Parliament enacted a law allowing increase in foreign direct investment in private insurance companies to 49 per cent last year.

He further added that "eTravos is fully
configurable for industry's needs, facilitate quick bookings, cancellations and report viewing. It has adopted the traditional B2B Travel Agent's Deposit Balance model. The system is quite intuitive and has been simple even for youngand inexperienced entrepreneurs." "Our focus in www.Hozbe.Com [http://www.Hozbe.Com ] and www.ETravos.Com [http://www.ETravos.Com ] has been on creating a simplified booking experience at affordable cost," he concluded.

Mr. K. Altaf Hussain, Chief Executive Officer of Corporate Comm India(CCI), The publisher of The Hotel Times.In said that The Hotel Times.In is indeed privileged to partnered with i2space Web Technologies Pvt Ltd. For positioning, branding and promoting www.Hozbe.Com [http://www.Hozbe.Com ] and www.ETravos.Com [http://www.ETravos.Com ] and allied booking engines. Mr. Altaf further added that i2space Web Technologies Pvt Ltd., a new generation travel centric software solution provider in a short span of time has made its respectable place in the industry. While elaborating the features of www.Hozbe.Com [http://www.Hozbe.Com ], Mr. Altaf stated that it has great look and feel, mobile and desktop friendly, insights into conversion and more, sell packages and add-ons, highlight and sell hot deals, simple 3 step booking process, offer promo and loyalty codes, multi language and currency, offer upgrades subject to availability, take payment on website or on arrival, trip itinerary, book multiple hotels and customise to groups needs. Where as www.ETravos.Com [http://www.Etravos.Com ] has unique features such as bus bookings, cab bookings, domestic flight bookings, International flight bookings, hotel bookings, holiday packages, recharges, bills payments, eCommerce (3rd Party) and coupons (3rd Party).

Increasingly online booking demand being generated in hospitality and travel industry, Mr. Altaf said that Hozbe and eTravos booking engines will be able to make a difference in the present day market dynamics. While expressing his happiness for The Hotel Times.In being associated with i2space Web Technologies Pvt Ltd. For providing quality simplified travel and hotel booking engine at the affordable cost to the customers with an assured booking experience. About i2Space Web Technologies Private Limited:
During the period of 2010 to 2014, i2Space
successfully executed more than 50 custom travel and hospitality portals, by consuming the partners API. Majority of the executions were in the domestic market apart from a few global executions in North America, Australia, Europe and Africa. Based on the domain and technology experience gained during this period with i2space Web Technologies Pvt Ltd. Evolved a product named eTravos - a multi-tenant cloud SaaS that can empower clients to start a travel and hospitality portal with their custom design within 15 minutes. I2space Web Technologies Pvt Ltd. Have executed more than 150 cloud sites Although travel and hospitality is i2space Web Technologies forte diversified in eCommerce, manufacturing and Finance domain. In these domains we've closely worked with a few of the US, Australia and Middle-east based clients who are leading service providers in core technologies.

I2space Web Technologies Pvt Ltd. Started with Microsoft Technologies and the team of developers are passionate and smart enough to adapt to the cutting-edge technologies for the solutions provided. Gradually, i2space Web Technologies Pvt Ltd. Also built in-house competency and executed a few projects for SAP, Java, Oracle, Responsive Design, Open Source technologies and Mobile Development.