The Dutch insurer Aegon announced the completion of the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.

Aegon has a 56% stake in Aegon Life Insurance Company (Aegon Life), a joint venture with Bennett, Coleman & Co. Ltd., and pursues a digitally focused strategy serving around 300,000 customers. It provides products that include term, savings, unit-linked, and health plans. Aegon Life was established in 2008, has around 250 employees, and is headquartered in Mumbai.

The sale was announced in July 2023 and highlights Aegon's commitment to withdrawing from non-core businesses. (click here for more details)

Following the receipt of the relevant regulatory approvals, transaction was closed on February 23, 2024.