Angel One, LiveWell incorporate life insurance company in India

Core Viewpoint - Angel One has established a new associate company, Angel One LivWell Life Insurance, in collaboration with LivWell Holding Company to enter the Indian life insurance market, pending regulatory approvals [1][2]. Group 1: Company Structure and Investment - Angel One will hold a 26% stake in the new insurance venture, while LivWell will maintain the majority share [1]. - The total proposed capital for the joint venture is Rs4 billion, with Angel One set to invest approximately Rs1.04 billion [2][3]. - The leadership team will be led by Wilf Blackburn as the proposed chairman and Nikhil Verma as the expected CEO [3]. Group 2: Market Focus and Regulatory Approval - The focus of the new company will be on delivering life insurance services across India, contingent on approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and the Ministry of Corporate Affairs [2]. - The partnership aims to create a digital-first life insurance company, with the initial announcement made in July [2]. Group 3: Background of Partners - LivWell is backed by Olympus Capital, a private equity firm that has invested over $2.6 billion in Asian financial services, including stakes in HDFC Bank and CreditAccess Grameen [4]. - Angel One is currently involved in stock broking and other financial services, registered with stock exchanges [4].