Private Equity Liquidity Events
BNP Paribas Cardif to acquire 26% stake in IndiaFirst Life Insurance
BNP Paribas Cardif plans to acquire a 26% stake in Mumbai-based IndiaFirst Life Insurance from Warburg Pincus. Post-transaction, Bank of Baroda will hold a 65% stake, BNP Paribas Cardif 26%, and Union Bank of India 9%.IndiaFirst Life Insurance intends to leverage the global bancassurance expertise and product innovation capabilities of its shareholders, alongside the extensive distribution network of Bank of Baroda.This investment follows the government’s decision to permit 100% foreign direct investment in insurance. BNP Paribas Cardif previously exited a joint venture with State Bank of India.
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In May 2018, IndiaFirst Life Insurance had attracted about $ 105 M from Warburg Pincus.For FY25, IndiaFirst Life Insurance had reported about INR 654 Cr in Operating Income and about INR 102 Cr in PAT.