HDFC Life, IndiaFirst Life and Bharti Axa Life look to change customer purchase behaviour and expand their influence
The merger will create the largest private insurance company with assets under management of over Rs 1 lakh crore
Combined entity eyes double-digit growth in business; since both are among top-5 players, they stand to gain from each other strengths
Combined entity to be country's largest private sector insurer
Industry experts say this could set the ball rolling for more consolidation in the insurance sector
Citi, JPMorgan, Morgan Stanley and Kotak to arrange $400-mn public issue
HDFC announced on Tuesday that it had initiated the process for an IPO in HDFC Life, by offloading 10% of its stake