IAG curries favour: Indian media
IAG is rumoured to be vying for a slice of Indian insurance firm Housing Development Finance Corp (HDFC), according to Indian media reports.
Australia’s largest general insurer is declining to comment on reports in the Business Standard newspaper that it has “advanced talks” to purchase the 26% stake in HDFC previously owned by US-based Chubb Corp.
The paper says US insurer Travelers and Munich Re’s insurance unit Ergo are also in the running.
The Indian play would make strategic sense for IAG, which recently pulled out of a $375 million investment in Beijing insurer China Pacific Property Insurance.
Analysts predicted IAG would move on Indian targets in the wake of its failed bid, and
IAG CEO Mike Hawker has previously stated the company is searching for growth opportunities at home and abroad.
Australia’s largest general insurer is declining to comment on reports in the Business Standard newspaper that it has “advanced talks” to purchase the 26% stake in HDFC previously owned by US-based Chubb Corp.
The paper says US insurer Travelers and Munich Re’s insurance unit Ergo are also in the running.
The Indian play would make strategic sense for IAG, which recently pulled out of a $375 million investment in Beijing insurer China Pacific Property Insurance.
Analysts predicted IAG would move on Indian targets in the wake of its failed bid, and
IAG CEO Mike Hawker has previously stated the company is searching for growth opportunities at home and abroad.