Union Bank of India has announced an additional investment of ₹336.51 crore in Star Union Dai-ichi Life Insurance Co. Ltd (SUD Life), its joint venture company. This investment, approved by the board on September 11, 2026, and permitted by the Reserve Bank of India on October 15, 2026, has raised the bank’s shareholding in SUD Life from 25.10% to 26.24%.
Union Bank of India Boosts Investment in SUD Life
Union Bank of India has made a significant additional investment of ₹336.51 crore in Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), a prominent joint venture company in which the bank holds a substantial stake. This strategic move underscores the bank’s commitment to its life insurance venture and its growth prospects.
Key Approvals and Shareholding Increase
The decision to increase its investment was granted approval by the bank’s Board of Directors on September 11, 2026. Further, the necessary permission from the Reserve Bank of India was obtained on October 15, 2026. Following this additional infusion of capital, Union Bank of India’s shareholding in Star Union Dai-ichi Life Insurance Co. Ltd. has seen a notable increase, rising from 25.10% to 26.24%.
Stock Exchange Disclosures
The bank has officially disclosed these details to the stock exchanges, adhering to the required regulatory frameworks. The disclosures were made to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on November 12, 2026, providing transparency on the increased stake in the joint venture.
Source: BSE
