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Detailed explanation-1: -LIC-controlled IDBI Bank on Wednesday said it has completed the sale transaction of its entire stake in the joint venture Ageas Federal Life Insurance Company Ltd (AFLI ) for over Rs 580 crore.

Detailed explanation-2: -Ageas Insurance International has completed the acquisition of a majority stake in its Indian joint venture Ageas Federal Life Insurance, picking up 25 per cent stake of IDBI Bank for Rs 580 cr.

Detailed explanation-3: -Which private sector bank sold its stake to Ageas Insurance, which led to the new brand named Ageas Federal Life Insurance? Notes: Private sector bank of India, IDBI Bank has completed the sale of 23 per cent stake in IDBI Federal Life Insurance Company Ltd (IFLI) to Ageas Insurance International.

Detailed explanation-4: -Ageas Federal Life Insurance (AFLI) on Thursday became the first life insurance company in India to have a 74% stake held by a foreign partner after Belgium-based Ageas Insurance International completed the acquisition of a majority stake in its Indian joint venture.

Detailed explanation-5: -Ageas Federal Life Insurance Co Ltd. (Formerly known as IDBI Federal Life Insurance) is a joint-venture of Federal Bank, which is a private sector banks in India and Ageas.