Deutsche Bank’s DWS and Japanese insurer Nippon Life in talks for India venture: report

Deutsche Bank’s investment spinout DWS is discussing forming an asset management joint venture in India with Japanese insurance firm Nippon Life, Reuters reported, citing four people aware of the matter.

The negotiations are at the initial stage and may take some time due to regulatory issues, the report said, citing a person with knowledge of the matter.

DWS, with more than €1 trillion ($1.12 trillion) in assets under management, is one of Europe’s most prominent fund managers. Nippon Life, the largest Japanese insurer, is considering international expansions.

Earlier, DWS was discussing a separate venture in China. However, it suffered a setback.

This recent development highlights how foreign financial firms explore expanding into the Indian market, considering it is the world’s most populous country with a growing middle class.

Last year, following Sebi’s principal approval to set up a mutual fund business, Jio Financial Services and BlackRock formed a joint venture called Jio BlackRock.

With each company investing $150 million (about ₹82.5 crore each), the two firms will leverage each other’s expertise in global investment, digital infrastructure, and local market knowledge.

Nippon Life owns a 5% stake in the German company. Last week, DWS CEO Stefan Hoops told analysts that the focus was on Asia and that the next couple of months would be interesting.