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    Home » Generali completes the transaction to become the majority shareholder in General insurance biz in India
    Insurance

    Generali completes the transaction to become the majority shareholder in General insurance biz in India

    Generali on May 6 said it has completed the acquisition from Future Enterprises Limited of 25% of the shares of Future Generali India Insurance (FGII) and will now hold a stake of around 74% in FGII.
    May 9, 20222 Mins ReadBy editor
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    Generali on May 6 said it has completed the acquisition from Future Enterprises Limited of 25% of the shares of Future Generali India Insurance (FGII) and will now hold a stake of around 74% in FGII. It said in a statement that it has  received the approval from the relevant regulatory and competition authorities.

    Generali in a statement added, “The deal is fully in line with the ‘Lifetime Partner 24: Driving Growth’ strategy, strengthening Generali’s position in fast-growing markets and confirms the Group’s commitment to deliver profitable growth whilst creating value for stakeholders. Generali is the first player among international insurers to step-up to a majority stake in both its Indian Life and P&C insurance Joint Venture companies since the new foreign ownership cap came into effect.”

    Jaime Anchústegui Melgarejo, CEO International of Generali, said: “This acquisition is in line with Generali’s strategy to reinforce its position in a high potential market and we look forward to deepening our presence in India, becoming Lifetime Partners to an increasing share of Indian customers in both Life and P&C businesses.”

    Rob Leonardi, Regional Officer, Generali Asia, said: “We’re excited that we are now able to consolidate our position also in our P&C Indian insurance JV and to create more value for our customers, agents, partners and distributors.”

    Future Generali Insurance
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