Not a merger with Sahara Life, just transfer of policyholders: SBI Life
Business Standard - FInance
JUNE 3, 2023
SBI Life, a subsidiary of country's biggest lender State Bank of India (SBI), has said it is not a merger between the two companies but only a transfer of the policyholder related assets and liabilities of Sahara Life Insurance. On Friday regulator Irdai directed SBI Life Insurance to takeover the policy liabilities of around two lakh policies along with assets of stressed Sahara India Life Insurance Co Ltd (SILIC).
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