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1. Which company's insurance arms is Hinduja Group's IIHL acquiring?
Hinduja Group's IIHL has received approval from IRDAI to acquire Reliance Capital's insurance arms, comprising Reliance General Insurance and Reliance Nippon Life Insurance. This acquisition is part of a substantial resolution plan worth Rs 9,650 crore. The IRDAI approval, obtained on May 10, 2024, is a crucial regulatory milestone, paving the way for the transfer of Reliance Capital's insurance businesses to IIHL and reinforcing the acquisition process.