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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First Published: Fri, September 03 2021. 09:44 IST