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India: Insurers boost investments in banks

May 8, 2014 - 6:00am


Indian insurers have increased their investments in the country's banks, mainly state-owned lenders, over the last three years as they eye the long-term growth prospects of the industry, Asia Insurance Review reported citing The Economic Times.

Insurers' holdings in government-controlled banks have on an average risen to 12.4% as of the end of March 2014, up from 7.08% in March 2011. Insurers are also increasing investment in banks that are considered potential acquisition targets, the news report said.

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