Old Mutual says it is looking to increase its stake in its partner, Kotak Mahindra Old Mutual Life Insurance. The company said on Friday that the deal would be completed by March 31.
Old Mutual says it is looking to increase its stake in its partner, Kotak Mahindra Old Mutual Life Insurance. At present the company is a 74:26 joint venture, but since the Indian Parliament passed a Bill that introduced the clearing of a higher foreign direct investment cap in insurance at 49% from 26%, many overseas banks, like Old Mutual, are looking to increase their stake in insurance joint ventures.