Generali takes majority stake in Indian JVs

Generali is investing around $190.47m in two joint ventures.

Generali will become the majority shareholder in both its life and property and casualty (P&C) joint ventures in India.

In the P&C business, Generali will acquire 25% of the shares of Future Generali India Insurance (FGII) from Future Enterprises limited for a consideration of €145m ($161.5m) Generali will have a total stake of 74% in FGII.

In the life business, Generali will acquire Industrial Investment Trust Limited’s stake of 16% in Future Generali India Life (FGIL) for €26 ($28.97m). With this, Generali will hold a stake of 68% in FGIL which may increase to 71% by the end of 2022, following further preferential allotment of shares.

According to Generali, this is in line with their ‘Lifetime Partner 24: Driving Growth’ strategy to strengthen Generali’s position in the industry and highlights the group’s commitment to deliver profitable growth whilst creating value for its customers.

In March last year, the Indian government increased the Foreign Direct Investment limit in the insurance sector from 49% to 74%.

Follow the link for more news on

Generali

Generali Indian Stake Joint Venture

Also Read

HKIA takes action against ethical breach by agent

Asia bears $17b of Q1 natural disaster economic loss

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit