Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, New Delhi, 25th July, 2026: French insurer BNP Paribas Cardif on Friday announced that it will acquire a 26 per cent stake in IndiaFirst Life Insurance from private equity firm Warburg Pincus for an undisclosed amount.
Following the transaction, Bank of Baroda will retain a 65 per cent stake in the insurer, while Union Bank of India will continue to hold 9 per cent. BNP Paribas Cardif will own the remaining 26 per cent.
According to an official statement, the shareholders aim to accelerate the growth of India's 12th-largest private life insurer by leveraging Bank of Baroda's extensive branch network, IndiaFirst Life's multi-channel distribution capabilities, and BNP Paribas Cardif's global expertise in bancassurance, product innovation and insurance solutions.
The partnership is expected to strengthen IndiaFirst Life's market position and support its long-term growth strategy in the country's expanding life insurance sector.