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Ageas Federal Life Insurance

Ageas Federal Life Insurance
Company type
Joint-venture subsidiary
IndustryFinancial services
Founded2008; 18 years ago (2008)
Headquarters
Mumbai
,
India
Area served
India
Key people
Jude Gomes (CEO)
ProductsLife insurance
OwnerAgeas and Federal Bank
Websitewww.ageasfederal.com

Ageas Federal Life Insurance[1] is an Indian life insurance company.[2] It started operations in 2008 as IDBI Federal Life Insurance, and renamed as Ageas Federal Life Insurance in 2020.[3]

The company operates as a joint venture between Ageas, a Belgium-based multinational insurance group, and The Federal Bank, an Indian private sector bank,[5] with IDBI Bank continuing as a distribution partner. [4] It is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).[5][6]

History

Ageas Federal Life Insurance began operations in 2008, with distribution largely driven by bancassurance partnerships with its partner banks. Over time, it expanded its distribution network to include agency, broker, and direct channels. The company was originally promoted by IDBI Bank, The Federal Bank and Ageas.

Following a restructuring in 2020, Ageas increased its stake to 49%, while IDBI Bank and The Federal Bank held 25% and 26%, respectively.[7][8] In 2022, Ageas acquired IDBI Bank’s 25% stake for approximately ₹580 crore, increasing its ownership to 74%, while The Federal Bank held 26%. IDBI Bank subsequently transitioned to a distribution partner role. [9]

In 2025, The Federal Bank agreed to acquire an additional 4% stake in the company for approximately ₹97 crore, which would increase its shareholding to 30%, subject to regulatory approvals.[10][11]

Operations

The company is led by Chief Executive Officer Jude Gomes, he was in Manulife, HSBC, and Union Assurance before joining Ageas Federal. Ageas Federal follows a multi-channel distribution model, anchored in bancassurance partnerships with The Federal Bank and IDBI Bank. The company has also expanded its reach through B2B2C partnerships with institutions such as Unity Small Finance Bank, Vakrangee, and digital platforms associated with Jio. These partnerships are aimed at improving insurance penetration across semi-urban and rural markets, as well as digitally connected customer segments.[12]

Products

Ageas Federal Life Insurance offers a range of life insurance products catering to individual and group customers. Its portfolio includes, Term insurance plans Savings and income plans (participating and non-participating) Unit-linked insurance plans (ULIPs) Retirement and pension plans Group insurance solutions Micro insurance products, with a stated focus on expanding its protection and annuity segments. These products are sold primarily through bancassurance partnerships and an expanding agency network, along with selected broker and B2B2C channels. [13]

See also

References

  1. ^ Ray, Atmadip (2020-12-31). "IDBI Federal Life Insurance rebranded as Ageas Federal Life Insurance". The Economic Times. ISSN 0013-0389. Retrieved 2026-03-09.
  2. ^ "Ageas Federal Life Insurance iSecure Term Plan Features, Benefits, Review & Comparison March 2026". beshak. Retrieved 2026-03-24.
  3. ^ "Insurance: Ageas Federal Life Insurance: Putting people first". www.forbesindia.com. Retrieved 2026-03-24.
  4. ^ Dasgupta, Mithun (2026-02-26). "Ageas Federal Life plans to grow agency strength 3-fold to reduce dependency on banca channel". BusinessLine. Retrieved 2026-03-24.
  5. ^ Moneycontrol.com. "AGEAS Federal Life Insurance Company Limited NAV: Unit Linked Insurance Plan/ULIP offered by AGEAS Federal Life Insurance Company Limited, ULIP Policy, AGEAS Federal Life Insurance Company Limited Nav/Plans/Returns/Performance". www.moneycontrol.com. Archived from the original on 2023-10-02. Retrieved 2026-03-24.
  6. ^ "ageas SA/NV (AGS.BR) Stock Price, News, Quote & History - Yahoo Finance". Yahoo Finance. Archived from the original on 2025-06-14. Retrieved 2026-03-25.
  7. ^ www.ETBFSI.com. "Jude Gomes appointed as new MD & CEO of Ageas Federal Life Insurance". ETBFSI.com. Retrieved 2026-04-01.
  8. ^ Awasthi, Nishtha (2025-03-26). "Federal Bank shares in focus on Rs 97.44 cr acquisition to acquire 4% stake in Ageas Federal Life". The Economic Times. ISSN 0013-0389. Retrieved 2026-04-30.
  9. ^ Network, BFSI (2024-10-09). "Ageas Federal Life Insurance Names Jude Gomes as the MD & CEO". Elets BFSI. Retrieved 2026-04-01.
  10. ^ admin (2026-02-27). "Ageas Federal Life to Focus on Term, Annuity". Retrieved 2026-03-24.
  11. ^ "Business Standard Ageas Growth Aim".
  12. ^ "Busines Standard Ageas Federal Life Insurance".
  13. ^ "Irdai imposes Rs 16 lakh fine on IDBI Federal Life Insurance". The Economic Times. 2015-11-07. ISSN 0013-0389. Retrieved 2026-03-20.

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