(Finance) – General has completed the acquisition by Future Enterprises Limited del 25% of the shares of Future Generali India Insurance (FGII)thus coming to hold one participation of about 74% in FGII, after having received the authorizations from the regulatory and antitrust authorities. The operation aims to strengthen the position of the Italian insurance group in high growth markets. Furthermore, Generali claims to be the first player among international insurers to have acquired a majority stake in both of its Indian insurance joint ventures after the entry into force of the new limit on the shareholding of foreign companies.
“The transaction is in line with Generali’s strategy to strengthen its positioning in this high potential market and we are happy to consolidate our presence in India, becoming a Life Partner for an increasing number of Indian clients both in the Life segment. than in the Non-Life segment “, he commented Jaime Anchu´stegui Melgarejo, CEO International of Generali. “We are thrilled to be able to consolidate our position also in the Non-Life segment and we will work to create more value for our customers, agents, partners and distributors”, he added. Rob Leonardi, Regional Officer of Generali Asia.