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Aegon Religare gets 850 mln rupees infusion
MUMBAI |
MUMBAI (Reuters) - The founders of Aegon Religare Life Insurance has put in 850 million rupees of additional capital in the venture to fund expansion, it said on Tuesday.
Religare Enterprises owns 44 percent, Dutch insurer Aegon 26 percent and Bennett, Coleman & Co Ltd 30 percent 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 5.5 billion rupees, 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.
(Reporting by Tamajit Pain; Editing by Harish Nambiar)
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