Swiss Re in talks with the insurer Reliance Life Insurance

The subsidiary company of the group Reliance Capital, the Indian insurer Reliance Life Insurance is planning to transfer a 26% share of its capital to Swiss Re. The deal is estimated at 115 million EUR (154 million USD). The Indian law provides for a foreign group to have a maximum participation of 26% in the capital of local insurers. Reliance Life Insurance is the only private insurer not to have foreign shareholders.