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Nippon Life gets FIPB approval to increase state in Reliance Life

Nippon Life gets FIPB approval to increase state in Reliance Life

Mar 21, 2016, at 09:06 pm

Mumbai, Mar 21 (IBNS) The Foreign Investment Promotion Board (FIPB) has granted approval on Monday to Nippon Life Insurance (NLI), a Fortune 500 company and one of the largest life insurers in the world, for increasing its stake in Reliance Life Insurance (RLI), a part of Reliance Capital, to 49 per cent.