MUMBAI: When SBI Life launched operations with the country's first bancassurance-led business model, it was powered by its JV partner BNP Paribas' insurance arm Cardif. Now the French insurer's aim is to replicate the same model in IndiaFirst Life Insurance through its partners Bank of Baroda and Union Bank.

BNP Paribas Cardif will acquire a 26% stake in IndiaFirst Life from Warburg Pincus, strengthening its presence in India’s fast-growing life insurance market.

BNP Paribas Cardif will re-enter India's life insurance market soon. The French insurer is acquiring Warburg Pincus' stake in IndiaFirst Life. This transaction values the Bank…