Ageas Federal

IDBI Federal Life Insurance Company has now been rebranded as Ageas Federal Life Insurance Company with Ageas Insurance International raising its stake to 49% in it from 26%. Ageas Federal Life Insurance Company is a joint venture between Federal Bank and Aeges. The company was earlier called IDBI Fortis Life Insurance Company. In April 2010, Fortis the foreign partner changed its name to Aeges which has resulted in the name change in this joint venture too.

Federal Bank, one of India’s leading private sector banks, with a dominant presence in the state of Kerala, has a strong network across India. The bank’s span is over four million retail customers with a wide variety of financial products. Aeges, an international insurance group composed of AG Insurance, is the overall market leader in life and non-life insurance in Belgium by distributing its insurance products through the network of BNP Paribas Aeges Bank and independent insurance brokers, and Aeges Insurance International with its subsidiaries.

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