The deal will see the Burman family stake drop to 26% from the current 51% in Aviva Life Insurance Co., the people said, requesting anonymity. The family’s private holdings range from restaurants to home healthcare to life insurance. Meanwhile, Aviva, the world’s fifth-largest life insurer, seems to be upbeat about India’s insurance business potential. Among other private life insurers Aviva Life, too, fared well in fiscal 2021, with new business premium growing to ₹220.2 crore from ₹217.53 crore in fiscal 2020. The Indian private life insurance industry grew 33.7% in the same period.

Source: Mint August 10, 2021 19:07 UTC