Aegon Religare gets Rs85 crore infusion

Aegon Religare gets Rs85 crore infusion

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.