Mumbai: Reliance Capital Ltd, the holding company of Reliance Nippon Life Asset Management Ltd (RNAM), on Thursday said that it has received Rs378 crore ($59 crore) from Nippon Life Insurance, upon completion of a transaction, increasing Nippon Life’s stake in RNAM to 49%. Nippon Life Insurance had acquired a 26% stake in RNAM in 2012. Thereafter, Nippon Life increased its stake to 49% in various tranches. More From Livemint »Nippon Life Insurance, one of the largest life insurance companies in the world, manages over $530 billion in assets. Reliance Capital will book capital gains on this final transaction in the quarter ending 30 September 2017, the statement said.

Source: Mint July 13, 2017 11:03 UTC