SBI Life Insurance has announced that it is to acquire the policyholder assets and liabilities of Sahara India Life Insurance. Despite reports to the contrary, this is not a merger between the two companies, but simply the transfer of business from the latter to the former. The policyholders of Sahara India Life Insurance will be fully integrated into SBI Life Insurance’s systems, although this may take some time. In the meantime, SBI Life has advised that it will shortly be contacting Sahara India’s policyholders to provide information about the transition process.
SBI Life acquires assets and liabilities of Sahara India Life’s life insurance business.
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