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Deal● Neutral for Indian equities
Alliance Insurance Brokers looks to raise up to ₹900 crore in minority stake sale
The brief
- Alliance Insurance Brokers is seeking ₹800-900 crore through primary and secondary share sales
- Life insurance savings policies could deliver up to 1% higher returns if IRDAI’s proposed distribution reforms are implemented
- IRDAI’s proposed distribution norms ruffle feathers of LIC agents, broker body
- PB Fintech faces 30% revenue risk from draft IRDAI rules, turns to costs, volumes for relief
- Coverfox founder, brokers raise concerns over IRDAI insurance distribution overhaul
- Bernstein cuts PB Fintech target 53% after shares lose ₹37,000 crore