Ageas Insurance completed the acquisition of a 25% stake in IDBI Federal Life Insurance Company from IDBI Bank for $74m.

Ageas Insurance, a Belgian multinational insurance company, completed the acquisition of a 25% stake in IDBI Federal Life Insurance Company, a life insurance company, from IDBI Bank, a banking company, for $74m. "In continuation of the bank’s disclosure dated March 29, 2022, we hereby inform you that IDBI Bank has entered a share purchase agreement with Ageas Insurance International on May 19, 2022 to sell IDBI Bank’s entire stake of 200m equity shares in Ageas Federal Life Insurance company pursuant to exercise of call option by Ageas. The transaction will be concluded subject to regulatory approvals," IDBI Bank.