Aviva has signed an agreement to purchase the remaining 26% share of Aviva Life Insurance Company India Limited ("Aviva India") from Dabur Invest Corp ("DIC"), its local joint venture partner. This will take Aviva’s ownership of Aviva India to 100% and will give Aviva full control over the strategic direction of the business.
Aviva India is currently a life insurance joint venture between DIC and Aviva which was formed in 2001. The acquisition follows recent regulatory foreign direct investment ("FDI") changes in India, which now allow foreign insurers to increase their shareholdings in local insurance companies to 100%. There were similar increases in Aviva’s shareholding in 2016 and 2022 following changes to the FDI regulations.
Financial impacts of the transaction are not material to Aviva.
On completion of the transaction, the current joint venture agreement will be terminated. Completion will happen in due course.
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Notes to editors:
- We are the UK's only diversified insurer and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
- We help our 25.2 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
- We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2025, we paid £31.9 billion in claims and benefits to our customers.
- Aviva is a Living Wage, Living Pension and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/about-us/our-people/
- As at 31 December 2025, total Group assets under management at Aviva Group were £454 billion and our estimated Solvency II shareholder capital surplus as at 31 March 2026 was £6.1 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
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