Reports said that Standard Life was looking to sell up to 3.2 per cent in HDFC Life, the largest life insurer by market capitalisation through an offer for sale (OFS).
The life insurer's new business margin improved significantly in FY19 to 24.6 per cent, from 23.2 per cent in FY18
Currently, it holds 29.2% stake in the life insurance company and HDFC hold 51.5%; DSP Merrill Lynch to broker the deal
Standard Life holds 35 per cent stake in HDFC Life Insurance
The deal is expected to lead to some job cuts
Analysts said regulators were likely to be focusing on the logistics of having an insurer merger with a non-insurer