Angel One, LivWell form JV to enter India’s life insurance market

Angel One Ltd (AOL) on Tuesday (September 16) announced the incorporation of a new associate company, Angel One LivWell Life Insurance Ltd, in partnership with Singapore-based LivWell Holding Company Pte. Ltd.

According to the company’s regulatory filing, Angel One will hold a 26% stake in the proposed entity, while LivWell will retain the majority share.

The new company has been incorporated as an unlisted public entity and will focus on providing life insurance services across India, subject to approvals

from the Insurance Regulatory and Development Authority of India (IRDAI) and the Ministry of Corporate Affairs.

The estimated investment from Angel One amounts to about ₹1.04 billion. The company clarified it will not exercise control over the joint venture but will contribute as a strategic partner in the fast-growing Indian life insurance sector.

This development follows Angel One’s July 24 announcement of its collaboration with LivWell to set up a digital-first life insurance company.

The proposed capital infusion in the joint venture is of ₹400 crore. Of this, Angel One will contribute 26% or ₹104 crore and LivWell will add 74% or ₹296 crore.

LivWell is backed by Olympus Capital, a private equity firm with over $2.6 billion invested across Asian financial services, including HDFC Bank, CreditAccess Grameen, among others.

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