Oben Ventures LLP (OVL) has established Go Digit Life Insurance Limited (Go Digit Life) as a life insurance company and made an investment in Go Digit Life.
Go Digit Life has been granted a certificate of registration by the Insurance Regulatory and Development Authority of India at its meeting held on June 2, 2023, to conduct life insurance business in India.
Shardul Amarchand Mangaldas & Co advised OVL on establishing Go Digit Life as a life insurance company and on structuring their investment in Go Digit Life.
The transaction team consisted of Shailaja Lall (Partner), Anu Susan Abraham (Partner), Arush Upmanyu (Principal Associate), Anupam Choudhary (Senior Associate) and Neeti Amin (Associate).
Ashish Teni (Partner) and Uday Opal (Principal Associate) advised on the application for registration under the IRDAI registration regulations.
OVL, backed by Kamesh Goyal, is a promoter of Go Digit Life, which is amongst the first few companies to have obtained registration as an insurer under the recently issued IRDAI (Registration of Indian Insurance Companies) Regulations, 2022. Go Digit Life marks the foray of Kamesh Goyal, the founder of Go Digit General Insurance Limited, in the life insurance space.
Go Digit Life’s registration takes the number of life insurance companies in India to 26.
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