Not too long ago, PNB and Metlife created news by entering into an agreement where PNB bought 30% stake in Metlife. However not many know that Aviva Life was also among the final list of companies where PNB had planned to invest. But this miss for Aviva would be short lived as news is brewing that Manipal based Syndicate Bank has set its eye on a 26% stake from Aviva Life.
Although many other life insurance players like Birla Sun Life, HDFC Life, Max New York Life are also included in the list for consideration, Aviva Life seems to be much better placed than these other companies. Aviva started its operations in India in 2002. Last fiscal it recorded a profit of Rs 29 crore. Currently Mohit Burman from Dabur Group holds 74% stake in Aviva and the rest is held by Aviva UK