Life Insurance

Aviva Plc has agreed to purchase Direct Line Insurance Group Plc for approximately £3.7 billion ($4.65 billion), creating the UK's largest motor insurer.

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Aviva Acquires Direct Line Insurance Group for £3.7 Billion

Under the agreement, each Direct Line shareholder will receive 0.2867 new Aviva shares, 129.7 pence in cash, and up to 5 pence in dividends. This values each Direct Line share at 275 pence, representing a 73% premium over the closing price on November 27, when Bloomberg News reported the takeover interest.

ICICI Prudential Launches Insurance Plan for Women-Specific Ailments

ICICI Prudential Life Insurance has introduced a groundbreaking health insurance product, ICICI Pru Wish, targeting women-specific critical illnesses and surgeries. +

Developed in collaboration with Reinsurance Group of America Inc., the plan provides instant payouts of up to 100% of the insured amount upon the diagnosis of critical conditions like breast, cervical, and uterine cancers, as well as heart ailments.

Unlike traditional reimbursementbased policies, ICICI Pru Wish offers fixed lump-sum payouts, providing greater financial flexibility. With a premium guarantee for 30 years, the product also allows for a 12-month premium sabbatical during the payment term and includes options to cover maternity-related complications and newborn congenital illnesses.

LIC's Bima Sakhi Initiative Crosses 50,000 Registrations in a Month

Registrations for the Bima Sakhi scheme by the Life Insurance Corporation (LIC) have surpassed 52,000 within just a month of its launch, the stateowned insurer announced. The initiative is designed to empower women aged 18 to 70 years who have completed at least Class X through specialized training. Participants receive stipends for the first three years to improve their financial literacy and awareness of insurance products.