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AIA takes bigger stake in Indian insurer

AIA Group will increase its shareholding in Tata AIA Life Insurance Company from 26% to 49%.

The business is a joint venture between AIA and Tata Sons, and the new deal will require regulatory and government approval.

Tata AIA began operating in India in 2001, offering protection, savings and wealth-creation products.

It is one of more than 100 companies owned by the Tata Group, which generated revenue of $US108.78 billion ($150 billion) in the year to March 30.

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