16-08-2017, 12:17 PM
IDBI Federal Life Insurance, formerly known as IDBI Fortis Life Insurance, is a joint venture between three companies - IDBI Bank, Federal Bank and Ageas, a European insurance company. The company was formed in 2008 with the IDBI bank that owns 48% of shares and Ageas and the Federal Bank with 26% each. IDBI has more than 2,500 branches throughout the country. IDBI Bank Ltd. is one of India's leading commercial banks offering a variety of fiscal products and services to retail and corporate clients. The Federal Bank is a top private sector bank in India with the main presence in Kerala. The bank offers financial products and services to more than four million retail customers. The bank also provides ingenious technological solutions to its customers. Ageas is a European international insurance company and concentrates its business in Europe and Asia. They also focus on four segments: Belgium, UK, Continental Europe and Asia.