Japanese insurance firm Nippon Life Insurance Company will acquire 26 per cent stake in Reliance Life Insurance for USD 680 million (approximately Rs. 3,062 crore).
The transaction pegs the total valuation of Reliance Life Insurance at approximately Rs. 11,500 crore (USD 2.6 billion).
Reliance Capital currently holds a 100 per cent stake in Reliance Life. The holding company has till now invested Rs. 3,000 crore in its life insurance venture.

However, the deal is subjected to approval by insurance regulator IRDA

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