Insurancesathi.comSyndicate Bank to invest in Aviva India
Latest sources confirm that Syndicate bank will invest upto 30% in Aviva Life Insurance Company. It is still not clear whether Existing shareholders will divest their shares or new capital would be infused. Whatever the scenario, Aviva is expected to benefit in a big way with this investment. Syndicate bank has around 1500 branches in India, which will definitely strengthen the banc assurance channel of Aviva India .
Aviva India had lost some business on the banc assurance channel with couple of banks moving out of the alliance.
Once through Aviva expects to increase its market share which is roughly around 1% now. Aviva is also projecting that it would be break even by 2013.
(All views mentioned above are from the author himself)
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