CCI nods to BNP Paribas Cardif’s Acquisition of Stake in IndiaFirst Life Insurance

The Competition Commission of India (CCI) has approved the acquisition of certain equity share capital in IndiaFirst Life Insurance Company Limited by BNP Paribas Cardif. The proposed combination involves BNP Paribas Cardif acquiring certain equity share capital in IndiaFirst Life Insurance Company Limited, identified as the Target.

Acquirer: BNP Paribas Cardif

BNP Paribas Cardif is a company incorporated in France and is a wholly owned subsidiary of BNP Paribas SA. BNP Paribas is a publicly listed company offering solutions across corporate and institutional banking, commercial and personal banking and services, and investment and protection services.

In India, BNP Paribas, along with its affiliates, offers a range of financial and advisory services.

Target: IndiaFirst Life Insurance

IndiaFirst Life Insurance Company Limited is an insurer incorporated in India and licensed by the Insurance Regulatory and Development Authority of India (IRDAI).

The company is engaged in providing life insurance services in India.

The CCI's approval relates specifically to the proposed acquisition of certain equity share capital in the insurer by BNP Paribas Cardif.