The founders of Aegon Religare Life Insurance has put in 850 million rupees of additional capital in the venture to fund expansion, it said on Tuesday.
Religare Enterprises owns 44%, Dutch insurer Aegon 26% and Bennett, Coleman & Co Ltd 30% in the life insurance venture that began operations in India in July 2008.
The additional capital, that would take the total paid-up capital in the company to Rs5.5 billion, was invested in accordance with the shareholding pattern, Aegon Religare Life Insurance said in an e-mailed statement.
The additional capital would be used to support distribution network, it said without elaborating.
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