The IRDAI gave its approval for a 26 percent stake sale in Reliance Capital including in Reliance General Insurance Company, Reliance Nippon Life Insurance Company (RNLIC), and Reliance Health Insurance to the Hinduja Group.
The thumbs up for change of control in Reliance Wealth Management comes after the market regulator approved an application for a proposed change in control at Reliance Securities under regulations governing research analysts and investment advisors.