The consultant will need to handhold the management of all the three companies, throughout merger process till the  new organization is formed and set in place and  to build a strong entity creating enterprise value and shareholders’ worth for better listing.

“IndiaFirst Life and Oxigen have together embarked on a journey to popularize insurance with long term savings for the micro segment. We offer premiums from as low as Rs.500 with a commitment to add future premiums but no penalty for inability to do so”.

“Through this transaction Generali has committed up to approximately Euro 120 million (approx Rs 958.79 crore) to the partnership which will continue to leverage the far-reaching distribution network of Future Group, a unique platform and customer ecosystem to offer insurance protection solutions within India with a focus on digital,” said a joint statement from both the companies.

There have been reports that having failed to a get a buyer for its stake in IDBI Bank, the government might ask LIC, which already owns over 10 per cent in the infra-lender turned commercial bank, to take at least 40 per cent more in it, something it had done with Axis Bank in the past

India, the second largest shareholder of AIIB with an 8 per cent stake, has been opposed to the OBOR, which is building transcontinental roads, railways and ports.