Dabur Invest Corp will sell its remaining 26% stake in Aviva India to UK-based Aviva Plc.
This transaction makes Aviva the first foreign insurer to hold 100% ownership in its Indian operations. Recent policy changes now permit full foreign ownership in the insurance sector.
The sale ends a partnership spanning more than 20 years. Dabur Invest Corp, a partner of Dabur India, will exit the insurance sector entirely following the deal.
Aviva expects full ownership to increase strategic flexibility. The company plans to accelerate decision-making for its Indian market expansion.