Ageas plans more capital to enter India's top 10 insurers

Belgium's Ageas Insurance is looking to invest more capital in India to break into the country's top 10 life insurers in the next three to four years, provided returns on equity remain favourable.

- Anshika Kayastha

"If the growth is there and the return on equity is good, we will be there with the capital," Ageas Insurance's global CEO Hans De Cuyper, who is in India, told Mint. "On the life (insurance) side, we have expressed the intention to become top 10. And I understand that will require a bit more capital in the market, and we have that available."

In India, Ageas operates in the life insurance space via its venture with Federal Bank-Ageas Federal Life Insurance where it holds 70% stake; and in general insurance through its partnership with Sundaram Finance-Royal Sundaram General Insurance where it holds 40% stake.