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Torrent group to make Rs 2,900-cr bid for Reliance Nippon Life Insurance

Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters

Reliance
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Reliance Nippon is amongst the leading private sector life insurers with a private sector market share of 1.1 per cent, in terms of new business premium, according to Reliance Capital annual report

Dev Chatterjee Mumbai
Ahmedabad-based Torrent group is planning to make an offer for Reliance Nippon Life Insurance Company (RNLIC), a 51:49 joint venture between Reliance Capital (RCap) and Nippon Life of Japan.

Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters. During the process, no offers were received for the life insurance business even as the lenders received indicative offers for the entire company and for various other companies owned by Reliance Capital.

Bankers close to the deal said a valuer appointed by the administrator for the life insurance

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First Published: Sep 22 2022 | 8:25 PM IST

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