Stiffening merger and acquisition terms in insurance

The Insurance Regulatory and Development Authority of India (IRDAI) is intent on tightening merger and acquisition conditions, a decision that follows the merger proposal between HDFC Life and Max Life which include non-competition expenses of 125 million USD. These fees shall be fully borne by one part of the shareholders.

IRDAI is opposed to such a set-up which is likely to have an impact on capital as well as on the policyholders. The authorities intervene in order to protect the interests of the latter. Should this move come to fruition, it will give birth to the biggest life insurer in the country.

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