English
Français
Generali has become the majority shareholder of its life and non-life joint ventures in India.
The Italian group has acquired 25% of the capital of its non-life subsidiary Future Generali India Insurance (FGII) from Future Group. The transaction was valued at 145 million EUR (163.6 million USD).
The insurer has also bought the entire 16% stake of Industrial Investment Trust in Future Generali India Life (FGIL) for 26 million EUR (29.3 million USD).
Generali now holds 74% of FGII's capital and 68% of FGIL's.
Both transactions are still pending the approval of the competent authorities.
Read also | Growth prospects for the Indian insurance market