This article contains content that is written like an advertisement .(April 2021) |
Formerly | Aegon Life Insurance Company |
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Company type | Private company |
Industry | Financial services Insurance |
Founded | 2008 |
Founders |
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Headquarters | |
Area served | India |
Key people | Satishwar Balakrishnan (MD and CEO) [1] |
Products | Insurance |
Owner |
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Website | www |
Bandhan Life Insurance Limited (formerly known as Aegon Life Insurance Company) is an Indian life insurance company offering individual and group insurance online and offline. [2] [3] Founded in 2008, it is headquartered in Mumbai, India.
Until 2024, it was a joint venture between Dutch Aegon N.V., a multinational insurance, pensions and asset management company and The Times Group (also called Bennett, Coleman & Co.) [4]
In February 2024, it was announced that the firm was acquired by Bandhan Financial Holdings Ltd. [5] On April 19, 2024, Aegon Life was officially rebranded as Bandhan Life. [6] [7] [8]
In July 2006, AEGON and the Ranbaxy Group announced its intention to enter the insurance business in India. The partnership of AEGON, Religare & Bennett, Coleman & Company formed AEGON Religare Life Insurance Company Limited and launched in July 2008.
In 2015, Aegon increased its stake in the venture to 49% while Religare Enterprises announced it was exiting the venture [9] [10] by selling its entire shareholding in the company, 44%, to Bennett, Coleman and Company, the holding company of the Times Group. [11] This led to the rebranding from Aegon Religare Life Insurance Company to Aegon Life Insurance Company. [4]
In September 2019, it partnered with Paytm to offer comprehensive insurance products. [12] In March 2020, the company entered into partnership with Flipkart to sell paperless life insurance policies on their platform. [13]
Aegon Life Insurance's distribution channels include banks, individual agents, brokers, and corporate agents, bancassurance partners, among others. [14] The company offers term insurance plans, savings and investment plans, child plans, and unit-linked insurance plans (ULIPs). In May 2018, the company launched the 'iTerm' plan, which offers insurance cover up to 100 years. [15] It launched a new version of its 'iTerm' Insurance Plan in November 2019 [16] that provides regular monthly income after the age of 60. [17] [18] [19]
Bennett, Coleman and Company Limited is an Indian media conglomerate headquartered in Mumbai, Maharashtra. The company, which is a family-owned business, publishes The Times of India newspaper, which is the highest selling daily English-language newspaper in India, in addition to several radio stations, television channels such as Times Now, the film magazine Filmfare, and the women's magazine Femina. The Sahu Jain family continues to own a majority of the stake in the group, and in May 2023, the Times Group was split into two separate business entities between brothers Vineet Jain and Samir Jain, such that its radio and broadcast properties would remain with Vineet Jain and its print properties would be under Samir Jain.
The Economic Times is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. The Economic Times began publication in 1961. As of 2023, it is the world's second-most widely read English-language business newspaper, after The Wall Street Journal, with a readership of over 900,000. It is published simultaneously from 14 cities: Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Jaipur, Ahmedabad, Nagpur, Chandigarh, Pune, Indore, and Bhopal. Its main content is based on the Indian economy, international finance, share prices, prices of commodities as well as other matters related to finance. This newspaper is published by Bennett, Coleman & Co. Ltd. The founding editor of the paper when it was launched in 1961 was P. S. Hariharan. The current editor of The Economic Times is Bodhisattva Ganguli.
Aegon Ltd. is a Dutch public company for life insurance, pensions and asset management. It is headquartered in The Hague, Netherlands and has 26,000 employees as of July 21, 2020. Aegon is listed on the Euronext Amsterdam and is a constituent of the AEX index. It operates a direct bank under the brand name "Knab" in the Netherlands. In October 2022, it was announced that AEGON's Dutch operations would be acquired by ASR. To the extent they had the AEGON trade name, it will become ASR; Knab and TKP will keep their names.
Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. Despite being the second-largest user base in world, only behind China, the penetration of e-commerce is low compared to markets like the United States, or France, but is growing, adding around 6 million new entrants every month. The industry consensus is that growth is at an inflection point.
Religare Enterprises Limited (REL) is an Indian investment and financial services holding company, headquartered in New Delhi. REL is listed on National Stock Exchange of India and Bombay Stock Exchange. It is registered with the Reserve Bank of India (RBI).
MobiKwik is an Indian payment service provider founded in 2009 that provides a mobile phone-based payment system and digital wallet. Customers can add money to an online wallet that can be used for payments. In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, and in May 2016 the company began providing small loans to consumers as part of its service.
Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.
Angel One Limited, formerly known as Angel Broking Limited, is an Indian stockbroker firm established in 1996. The company is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity & Derivatives Exchange Limited and Multi Commodity Exchange of India Limited. It is a depository participant with Central Depository Services Limited (CDSL).
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Paytm Payments Bank (PPBL) is an Indian payments bank, founded in 2017 and headquartered in Noida. In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. In 2021, the bank received a scheduled bank status from the RBI.
Care Health Insurance Limited is an Indian health insurance company established in July 2012. It is part of the Religare Group and a direct subsidiary of Religare Enterprises. Kedaara Capital is a co-promoter of the company. Care Health Insurance is headquartered in Gurgaon, Haryana, and operates out of 158 offices across India with 8500+ employees.
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Zeta is a next-gen banking tech company by founders Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, cloud banking, and "mobile experiences". Zeta provides its products to banks and fintechs globally.
Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram. Established in 2008, Canara HSBC Life Insurance was a joint venture between Canara Bank (51%), HSBC Insurance Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life Insurance after the exit of its third partner, Punjab National Bank.
ICICI Prudential Life Insurance Company Limited is an Indian life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.
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