{"id":40704,"date":"2022-05-07T17:57:40","date_gmt":"2022-05-07T12:27:40","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-generali-future-group\/"},"modified":"2022-05-07T17:57:40","modified_gmt":"2022-05-07T12:27:40","slug":"biz-generali-future-group","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-generali-future-group\/","title":{"rendered":"Generali completes acquisition of 25 pc stake in Future Generali India Insurance from Future Group"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3743528297\"><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, May 7 (PTI) Italian financial services major Generali on Saturday said it has completed the acquisition from Future Enterprises of 25 per cent stake in Future Generali India Insurance, and its stake in the JV has now gone up to 74 per cent.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-235959744\"><!-- 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> Generali received the approval from the relevant regulatory and competition authorities, a company statement said.<\/p>\n<p> The deal is fully in line with the &#8216;Lifetime Partner 24: Driving Growth&#8217; strategy, strengthening Generali&#8217;s position in fast-growing markets and confirms the group&#8217;s commitment to deliver profitable growth whilst creating value for stakeholders, it said.<\/p>\n<p> Generali is the first player among international insurers to step-up to a majority stake in both its Indian Life and P&#038;C (Property and Casualty) insurance joint venture (JV) companies since the new foreign ownership cap came into effect, the company said.<\/p><div class=\"trade-content_5\" id=\"trade-2984105225\"><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> &#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 in both Life and P&#038;C businesses,&#8221; Jaime Anchu\u0301stegui Melgarejo, CEO International of Generali, said.<\/p>\n<p> Rob Leonardi, Regional Officer, Generali Asia, said with this the company will be able to consolidate its position also in the P&#038;C Indian insurance JV and to create more value for our customers, agents, partners and distributors.<\/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 of up to 74 per cent came into effect.<\/p>\n<p> Last year, the Indian 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 has helped the debt-ridden Future Group sell 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 KPM  DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-1868215078\"><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, May 7 (PTI) Italian financial services major Generali on Saturday said it has completed the acquisition from Future Enterprises of 25 per cent stake in Future Generali India Insurance, and its stake in the JV has now gone up to 74 per cent. Generali received the approval from the relevant regulatory and competition [&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-40704","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 completes acquisition of 25 pc stake in Future Generali India Insurance from Future Group - 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-future-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Generali completes acquisition of 25 pc stake in Future Generali India Insurance from Future Group\" \/>\n<meta property=\"og:description\" content=\"New Delhi, May 7 (PTI) Italian financial services major Generali on Saturday said it has completed the acquisition from Future Enterprises of 25 per cent stake in Future Generali India Insurance, and its stake in the JV has now gone up to 74 per cent. 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