Nippon Life Insurance signs pact to buy 26% stake in Reliance Capital

MUMBAI: Nippon Life Insurance Company has inked a definitive pact for the acquisition of 26% stake in Reliance Capital Limited's life insurance firm, Reliance Life Insurance. Nippon Life Insurance has decided to invest $680 million for the acquisition.

Nippon Life Insurance Company along with its subsidiaries offers various life and non life insurance products and services. It provides insurance products to individual customers, including whole life insurance, term life insurance, medical insurance, cancer insurance, endowment insurance, fixed amount annuities, term life insurance with survival benefit, and juvenile insurance products, as well as additional riders attached to insurance policies, including living benefit riders, accident and medical riders, and riders focused on death protection.