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Aegon Religare gets Rs85 crore infusion

Aegon Religare gets Rs85 crore infusion
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First Published: Tue, Feb 09 2010. 01 41 PM IST
Updated: Tue, Feb 09 2010. 01 41 PM IST
Mumbai: The founders of Aegon Religare Life Insurance has put in Rs85 crore of additional capital in the venture to fund expansion, it said on Tuesday.
Religare Enterprises owns 44%, Dutch insurer Aegon 26% and Bennett, Coleman & Co Ltd 30% in the life insurance venture that began operations in India in July 2008.
The additional capital, that would take the total paid-up capital in the company to Rs550 crore, was invested in accordance with the shareholding pattern, Aegon Religare Life Insurance said in an e-mailed statement.
The additional capital would be used to support distribution network, it said without elaborating.
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First Published: Tue, Feb 09 2010. 01 41 PM IST