UK-based financial services major Aviva Plc is reportedly planning to exit from its over 10-year old Indian joint venture life insurance company with diversified FMCG player Dabur. Aviva is reportedly in the process of hiring corporate advisors to find buyers for its 26 per cent stake in the Indian business. When contacted for comments, Aviva India in an e-mail said: “We don’t comment on market speculations or rumours as a policy.”
E-mails sent to Aviva Plc in this regard did not elicit response. Various options are being considered for the exit including the sale of its stake to Dabur Group if Aviva Plc fails to find a foreign insurer to buy it. Started in 2002, the life insurance firm has a paid up capital of Rs 2,004 crore.
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