Aegon Life Insurance
International provider of life insurance, pensions and asset management, religare, holding company.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Secondary | |
| Total Funding | 000k | ||
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Aegon Life Insurance, now rebranded as Bandhan Life, operates as a digitally-focused life insurance provider in India. The company was established in 2008 as a joint venture between Aegon, an international provider of life insurance and asset management, and Bennett, Coleman & Company, a prominent Indian media conglomerate. Headquartered in Mumbai, the firm pioneered the online term insurance plan in India, building its strategy around providing simplified and effective life insurance solutions through digital channels.
In a significant milestone, Bandhan Financial Holdings Limited (BFHL) completed the acquisition of Aegon Life Insurance in February 2024, marking the Bandhan group's entry into the Indian life insurance sector. This acquisition integrates Aegon Life's digital underwriting capabilities and tech-centric operations with Bandhan's extensive distribution network, aiming to expand the reach of insurance solutions across the nation. The company's management team and staff were retained to ensure operational continuity during the transition.
The business generates revenue primarily through premiums collected from a variety of insurance policies. The company serves a diverse client base, offering products tailored to individual needs. Its product portfolio includes term insurance plans, savings and investment plans, unit-linked insurance plans (ULIPs), and retirement policies. Specific offerings like the iTerm Plan provide life cover up to the age of 75, with options for accidental death benefits and staggered death benefit payouts. The company also offers ULIPs that combine investment with insurance, and retirement plans designed to provide financial security post-employment. By focusing on a 100% digital approach, the company aims to deliver clarity, transparency, and a superior customer experience.
Keywords: digital life insurance, term insurance, online insurance, ULIPs, retirement plans, financial security, insurance provider, asset management, Bandhan Life, Indian insurance market, online term plan, digital underwriting, financial services, wealth management, pension plans, investment solutions, life cover, savings plans, customer-centric insurance, digital distribution