Bupa to increases its stake in Indian health insurer Max Bupa to 49%
21 July 2016
International healthcare group Bupa and Max India Ltd., have announced the completion of the transaction to increase Bupa’s shareholding in their health insurance joint venture Max Bupa from 26% to 49%.
The application to increase Bupa’s shareholding was submitted following changes to India’s foreign direct investment (FDI) rules to allow up to 49% ownership of insurance companies by foreign investors. Bupa is one of the first foreign investors in India’s health insurance sector to have its application to increase its shareholding approved by Indian regulatory authorities and complete the transaction with its joint venture partner. Bupa has paid approximately GBP 21.9m to Max India, in an all cash transaction, for the stake increase.