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Nippon Life To Take Control Of India's 5th-largest Asset Manager - Nikkei Asian Review

by asia.nikkei.com posted 3days ago 8 views
TOKYO -- Nippon Life Insurance is in talks to raise its investment in an Indian asset management affiliate, seeking to capture more of a growing local market. Japan's biggest life insurance company looks to spend roughly 70 billion yen ($639 million) to acquire most of partner Reliance Capital's 43% interest in Reliance Nippon Life Asset Management, bringing its own stake to more than 70%. Reliance Nippon Life is India's fifth-largest asset manager, with 4.2 trillion rupees ($59.6 billion) in assets under management. It offers mutual funds for retail investors and handles larger accounts such as pension funds.

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