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Edelweiss Financial Services’ JV gets capital infusion of Rs 670 crore

30 Nov 2017 Evaluate

Edelweiss Financial Services’ joint venture Edelweiss Tokio Life Insurance has received equity capital infusion of Rs 670 crore, from Edelweiss Financial Services and Tokio Marine Holdings. Edelweiss Tokio Life Insurance is a joint venture (JV) between Edelweiss Financial Services and Tokio Marine Holdings, where Edelweiss Financial Services owns 51% and Tokio Marine owns the balance 49%, in Edelweiss Tokio Life Insurance. This capital infusion will support expansion plans, and in particular, the development of Bancassurance channel.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.

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