Federal Bank to increase stake in Ageas Federal Life

Federal Bank [BSE:FEDERALBNK] has announced the execution of a binding Memorandum of Understanding (MOU) with Ageas Insurance International NV and Ageas Federal Life Insurance Company Limited to acquire a 4% equity stake in the latter. The acquisition, totaling ₹97.44 crore, will be executed at ₹30.45 per share for 3,20,00,000 equity shares and increase Federal Bank's holding in Ageas Federal Life from 26% to 30%. Subject to regulatory approvals from the Reserve Bank of India and the Insurance Regulatory Development Authority of India, the deal is expected to close by October 31, 2025. Ageas Federal Life reported a net worth of ₹1,176 crore and gross written premium of ₹2,697 crore in fiscal year 2024.