Insurance sector sees record deals worth over Rs 38,000 crore in two weeks

Over the past two weeks, the insurance industry has witnessed some of the largest deals in the financial sector, with a cumulative deal value exceeding Rs 38,000 crore.

 

The biggest among them is the Bajaj Group's acquisition of Allianz’s stake in their two insurance joint ventures for Rs 24,180 crore.

 

Additionally, Patanjali entered the insurance sector by acquiring a stake in Magma General Insurance from Adar Poonawalla. IndusInd International Holdings (IIHL) also completed its acquisition of Reliance Capital, which owns two insurers — Reliance Nippon Life Insurance and Reliance General Insurance.

 

Separately, the UK-based Prudential Group partnered with HCL Group to establish a standalone health insurance company.