Nippon Life takes stake in Reliance Capital Asset Management

Nippon Life Insurance enters a new alliance with Reliance as it buys a 26% stake in the Indian group's asset management business.

<div style="text-align: left;"> Anil Ambani, chairman of Reliance Capital (AFP) </div>

Lara Wozniak

January 20, 2012

Nippon Life Insurance announced yesterday that it would buy a 26% stake in Reliance Capital Asset Management, India’s second largest and most profitable asset management company for Rs14,500 ($286 million).

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