Generali Group has finalized its agreement to increase its stake in its Indian insurance joint venture with Future Group to 49 percent from 25.5 percent.
Through this transaction, Generali has committed up to approximately €120 million ($137.3 million) to its Indian joint ventures: Future Generali India Life Insurance Co. Ltd.; Future Generali India Insurance Co. Ltd., which writes non-life insurance, and the newly established distribution joint venture FG&G Distribution Private Ltd.
Ir The new Generali strategy focuses on high potential insurance markets. India will play an important role in our expansion plan in Asia, ”explained Jaime Anchustegui Melgarejo, CEO of Generali.
Ün The strengthening of our partnership with Future Group is a clear sign of the Generali Group’s commitment to expand customer access and the commitment to invest more in the development of partner customer systems, “he said.
Group CEO Kishore Biyani, Future Group said: Group We are excited about the possibility of a larger partnership with Generali while increasing our commitment to India and strengthening our strategy of redefining the insurance. We are committed to making our insurance companies more customer focused and we believe that with Generali’s global expertise we can create unique and differentiated platforms in India. “
It shall be followed by the Generali on 26 June 2018.
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