Nippon Life Insurance Co.’s Indian subsidiary is reportedly exploring the possibility of acquiring a minority stake in IndusInd Bank Ltd. This strategic move is designed to leverage the bank’s extensive network to broaden the distribution of Nippon Life’s insurance offerings.
According to sources familiar with the matter, Reliance Nippon Life Insurance Ltd. is considering a purchase of up to 9.9% of the Mumbai-listed bank. These individuals, who requested anonymity due to the confidential nature of discussions, indicated that the insurer might initiate the acquisition with a 4.9% stake, with potential for expansion over time.
