Generali becomes the majority shareholder in its Indian non-life joint venture

9 May 2022 — Andrei Victor
Italian insurer Generali informed it 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.

Generali received the approval from the relevant regulatory and competition authorities.

The Italian insurer mentioned 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".

About a month ago, Generali informed it controls its life joint venture in India with 68% stake after it completed the acquisition of the entire stake (around 16%) held by Industrial Investment Trust Limited (IITL) in Future Generali India Life (FGIL) and the subscription of additional shares in FGLI, following receipt of all necessary approvals from the relevant regulatory and competition authorities.

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