{"id":32530,"date":"2022-03-30T17:43:14","date_gmt":"2022-03-30T12:13:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-generali\/"},"modified":"2022-03-30T17:43:14","modified_gmt":"2022-03-30T12:13:14","slug":"biz-generali","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-generali\/","title":{"rendered":"Generali becomes majority shareholder in Indian life lnsurance joint venture"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3588192014\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1155432988\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The company has completed the acquisition of the entire stake of around 16 per cent 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.<\/p>\n<p> Generali now holds a stake of around 68 per cent in FGIL, which may increase further to 71 per cent by the end of 2022, following further subscription of shares, the company said in a statement.<\/p>\n<p> Generali is the first player among international insurers to step-up to a majority shareholder position in its Indian joint venture since the new foreign ownership cap came into effect.<\/p><div class=\"trade-content_5\" id=\"trade-1906447047\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Last year, the government amended the Insurance Amendment Bill, 2021 to increase the foreign direct investment (FDI) limit in the insurance sector to 74 per cent from 49 per cent.<\/p>\n<p> The deal is expected to strengthen Generali\u2019s position in fast-growing markets and confirms the Group\u2019s commitment to deliver profitable growth whilst creating value for customers.<\/p>\n<p> Jaime Anchu\u0301stegui Melgarejo, CEO International of Generali, said, &#8220;This acquisition is in line with Generali&#8217;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.&#8221; \t With this debt-ridden Future Group has pared its stake from the insurance business Future Generali India Insurance for a cash consideration of Rs 1,252.96 crore, as part of its asset monetisation plans to pare debts. PTI DP  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-732951961\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval. The company has completed the acquisition of the entire stake of around 16 per cent held by Industrial Investment Trust Limited (IITL) in Future [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-32530","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Generali becomes majority shareholder in Indian life lnsurance joint venture - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-generali\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Generali becomes majority shareholder in Indian life lnsurance joint venture\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 30 (PTI) Italian financial services firm Generali on Wednesday said it has become the majority shareholder of the Indian life insurance joint venture following all the regulatory approval. 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