Dhan to acquire GreenLife Insurance for $15-M

Mumbai-based Raise Financial, the parent of stock broking platform Dhan, is to acquire Kolkata-based GreenLife Insurance for $15-M in a cash-and-stock deal.Founded in 2013 by Subir Mukherjee, GreenLife Insurance provides services across more than 50 cities and towns in eastern and northeastern India. The company, which maintains a 25-member team, will relocate its operations to Mumbai.Raise Financial intends to use the acquisition to develop a hybrid insurance distribution model for tier 1 and tier 2 markets.