BNP Paribas Cardif to buy Warburg Pincus's 26% in IndiaFirst Life
French insurer BNP Paribas Cardif will acquire a 26% stake in IndiaFirst Life from private equity firm Warburg Pincus for an undisclosed sum, it announced on Friday, marking the PE firm's exit. After the deal, state-run Bank of Baroda will hold 65% of the life insurer, Union Bank of India 9%, and BNP Paribas Cardif the remaining 26%.