Mumbai: Bank of Baroda (BOB) is considering an initial public offering (IPO) of its insurance arm. IndiaFirst Life in the next financial year. BOB holds 44% stake in IndiaFirst with Union Bank And Carmel Point Investment ,warburg pincus) 30% and 25% respectively.
“Had a tough journey during life insurance covid, but this company continues to perform very well. In the last quarter, it was the fastest growing life insurer and its ranking increased from 12 to 10,” said MD & CEO, BoB Sanjeev Chadha, “We are very invested in the business.” Chadha confirmed that the IPO is one of the avenues being considered.
“Had a tough journey during life insurance covid, but this company continues to perform very well. In the last quarter, it was the fastest growing life insurer and its ranking increased from 12 to 10,” said MD & CEO, BoB Sanjeev Chadha, “We are very invested in the business.” Chadha confirmed that the IPO is one of the avenues being considered.
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