Economy · India
IRDAI Approves Patanjali's Rs 4,500 Crore Insurance Sector Entry
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Patanjali Ayurved's acquisition of Magma General Insurance for approximately Rs 4,500 crore. Patanjali Ayurved will acquire 73.56% of the company, with DS Group acquiring 24.5%. This approval marks Patanjali's entry into the financial services sector as the promoter of the insurance company. The reforms also include mandatory tagging of authorised sales persons to insurance proposals and policies.
How outlets across the spectrum covered it
Left 1 · Centre 4 · Right 0 n = 5
- Left (1): The Hindu
- Centre (4): Business Standard, Mint, The Indian Express, The Times of India