Wednesday, July 30, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Indian Tycoon Birla Weighs Selling Insurance Brokerage Unit: Sources

Indian Tycoon Birla Weighs Selling Insurance Brokerage Unit: Sources

by admin
December 13, 2022
in Insurance
0 0
0
Share on FacebookShare on Twitter


Aditya Birla Capital Ltd., managed by billionaire Kumar Mangalam Birla, is contemplating promoting its insurance coverage brokerage unit because the group seeks to restructure its monetary companies enterprise, individuals conversant in the matter mentioned.

The publicly traded firm has held talks with potential patrons a few sale of Aditya Birla Insurance coverage Brokers Ltd. because it did not scale up the 19-year-old enterprise, the individuals mentioned, asking to not be recognized as the knowledge just isn’t public. It’s considered one of India’s largest composite insurers, which means it affords each life and non-life insurance policies, but the unit reported income of solely 6 billion rupees ($73 million) within the 12 months to March 31, 2021, its web site reveals.

The sale is a part of Aditya Birla Capital Chief Government Officer Vishakha Mulye’s efforts to restructure the corporate’s companies, which vary from asset administration to mortgage financing, with the intention to increase shareholder returns, the individuals mentioned. Although the corporate’s shares have by no means traded above their 2017 debut worth, they’ve surged greater than 50% since Mulye took the helm in June.

The corporate plans to shut the transaction by March 31, nonetheless no last determination has been reached concerning the valuation, and the sale might nonetheless be shelved, the individuals mentioned. A spokesman for Aditya Birla group declined to remark.

The unit being thought of on the market affords broking and advisory companies to corporations and people together with re-insurance options to insurers, the web site reveals. It has greater than 350 individuals working throughout 11 places in India.

{Photograph}: Kumar Mangalam Birla, chairman of Aditya Birla Group, in Mumbai, India, on Tuesday, Sept. 18, 2018. Picture credit score: Dhiraj Singh/Bloomberg

Copyright 2022 Bloomberg.

Subjects
Businesses

Excited about Businesses?

Get automated alerts for this matter.



Source link

Tags: BirlaBrokerageIndianinsurancesellingSourcesTycoonUnitweighs

Related Posts

‘Mixed bag’ for legal reforms as La. legislative session ends | Louisiana Record
Insurance

‘Mixed bag’ for legal reforms as La. legislative session ends | Louisiana Record

July 28, 2025
Japanese Firm Unveils Industry First Insurance for Municipalities for Damage During Emergency Wildlife Cull
Insurance

Japanese Firm Unveils Industry First Insurance for Municipalities for Damage During Emergency Wildlife Cull

July 27, 2025
Increase in MTPL Tariffs Will Improve Financial Standing of Uzbekistan’s Insurers
Insurance

Increase in MTPL Tariffs Will Improve Financial Standing of Uzbekistan’s Insurers

July 27, 2025
mandatory insurance for e-scooters « Euro Weekly News
Insurance

mandatory insurance for e-scooters « Euro Weekly News

July 26, 2025
Driving in UAE: What exactly is the black points system? key info every driver must know | World News
Insurance

Driving in UAE: What exactly is the black points system? key info every driver must know | World News

July 26, 2025
Woman Accused Of Evading Arrest With 3 Kids In Car
Insurance

Woman Accused Of Evading Arrest With 3 Kids In Car

July 25, 2025
Load More
Next Post
Tanzania nickel producer Lifezone Metals to list in New York, Auto News, ET Auto

Tanzania nickel producer Lifezone Metals to list in New York, Auto News, ET Auto

The Way Of Water’ Release

The Way Of Water’ Release

Categories

  • Auto News (3,429)
  • Automative Reviews (1,944)
  • Car Brands (2,070)
  • Insurance (3,451)
  • Market (1,611)
  • New Cars (2,173)
  • Technology (2,049)
  • Videos (2,147)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Semiconductors: The Engine Behind Modern Vehicles
  • Audi Q5 and SQ5 priced for Australia
  • Sharpsell.ai Secures ₹30 Cr Series A Funding Led by Equentis Angel Fund, ETAuto
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In