Generali to own majority in Indian insurance JVs
The Hindu
Future sells 25% in general insurer
European insurance major Generali on Thursday said it was set to become the majority shareholder in its general and life insurance joint ventures (JVs), Future Generali India Insurance Company Ltd. (FGIICL) and Future Generali India Life Insurance Company Ltd.
Future Enterprises Ltd. agreed to sell a 25% stake in FGIICL to Generali Participations Netherlands N.V., for ₹1,252.96 crore in cash. Generali also acquired an option to buy out the remaining interest in the general insurance venture.
Generali said the decision to increase its stake in the JV was in line with its strategy to strengthen its presence in fast-growing markets.
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