Nippon Life says to lift stake in India's Reliance Life to 49 pct

TOKYO (Reuters) - Japan's Nippon Life Insurance Co said on Tuesday it had agreed to raise its stake in India's Reliance Life Insurance to 49 percent from 26 percent.

It will pay about 22.7 billion rupees ($342.13 million) for the additional 23 percent stake, it said in a statement.

($1 = 66.3500 Indian rupees)

(Reporting by Junko Fujita; Editing by Chang-Ran Kim)