QBE takes full control of India insurance venture
The insurer will rename the business after securing regulatory approval.
QBE Insurance has fully acquired Raheja QBE General Insurance Company Limited (Raheja QBE), following approval from the Insurance Regulatory and Development Authority of India (IRDAI).
The acquisition follows 18 years of joint ownership with Prism Johnson Limited. Raheja QBE will be renamed as QBE as part of this acquisition.
“India is one of the world's most dynamic markets – and we are well positioned to deploy QBE’s capabilities and unlock the next phase of growth in a country we believe has enormous long-term potential," said Rob Kosova, CEO, QBE Asia.