The MoU will outline Federal Bank’s intent to acquire an additional 4% equity stake in AFLIC from Ageas, subject to the execution of a Share Purchase Agreement (SPA), fulfilment of customary conditions precedent, and requisite regulatory approvals.
FinTech BizNews Service
Mumbai, March 25, 2025: Ageas Federal Life Insurance, a leading private life insurer in India, announced that the Federal Bank’s Board of Directors approved the execution of a binding Memorandum of Understanding (MoU) with Ageas Insurance International NV (“Ageas”) and Ageas Federal Life Insurance Company Limited (AFLIC) at a meeting held today. The MoU will outline Federal Bank’s intent to acquire an additional 4% equity stake in AFLIC from Ageas, subject to the execution of a Share Purchase Agreement (SPA), fulfilment of customary conditions precedent, and requisite regulatory approvals.
This acquisition will increase Federal Bank’s total shareholding in AFLIC from 26% to 30%, reaffirming its long-term commitment to the life insurance sector.
Commenting on the development, Mr. Jude Gomes, MD & CEO, Ageas Federal Life Insurance, said, “We welcome this step by Federal Bank, which reflects the continued trust and confidence in our partnership and business growth potential. As we progress towards completing this transaction, we remain committed to strengthening our bancassurance-driven model, delivering customer-centric insurance solutions, and reinforcing our presence in India’s dynamic insurance sector.”
This strategic move aligns with Ageas Federal Life Insurance’s commitment to strengthening distribution across channels while broadening its presence in India’s dynamic insurance landscape. The company remains dedicated to offering innovative, customer-first insurance solutions that cater to evolving financial protection needs.
