Generali becomes majority shareholder in Indian non-life joint venture

pWhen it announced the deal in January, Generali said it had agreed to pay 145 million euros 153 million to debtladen Future Group, its partner in Future Generali India Insurance FGII, for the stake. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe deal, which is in line with Generalis strategy to position itself in fastgrowing markets, follows a 2021 decision by the Indian government to allow foreign companies to own up to 74 of a local insurance business, up from 49 previously.p

pIn March, Generali also completed a deal to become the majority shareholder in its Indian life insurance joint venture. p

pGenerali is the first international insurer to take a majority stake in both its Indian life and nonlife insurance joint ventures since the new foreign ownership cap came into effect, it said in a statement.p

p1 0.9462 eurosp