Union Bank of India-About Us
Home You are here : path  About Us path JV/Subsidiaries path India First Life Insurance Company Ltd

imageIndia First Life Insurance Company Ltd. (Bank’s shareholding: 30%)


IFLIC was incorporated on 19.06.2008 and initially, Bank of Baroda, Union Bank of India (e-AB) and Legal & General Insurance, UK were the shareholders of the Company with shareholding of 44%, 30% & 26% respectively. During the year February 2019, Legal & General Insurance sold its entire shareholding of 26% to Carmel Point Investment India Pvt. Ltd., which is an Indian SPV of M/s. Warburg Pincus, USA.

The company is offering individual life insurance plans under traditional and unit linked segments and group credit life insurance to cover retail loan borrowers.