Aviva India cleared brokerage model queried by tax officials
Financial Express Ahmedabad|December 14, 2024
An Aviva business model that tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows.
ADITYA KALRA & NIKUNJ OHRI

Tax inspectors accuse the British insurer of engaging in a clandestine scheme involving hundreds of individuals and illegal payments of $26 million that used fake invoices to enable commissions in excess of regulatory caps, Reuters has reported.

Aviva has said it is actively engaging with Indian authorities, but the accusations are the biggest challenge it faces in India where it has struggled to grow amid intense competition.

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