IAG named as potential partner for Indian JV
The State Bank of India (SBI) is expected to announce its non-life insurance partner in June – and IAG is still in the hunt.
In April SBI reportedly shortlisted IAG and two other international insurers as potential partners for a general insurance joint venture.
Indian newspaper reports say SBI has been in “advanced talks” with IAG, which would most likely have to pay a premium for a 26% stake, the maximum allowed by Indian authorities.
IAG has confirmed it is interested in the Indian market but has not specified the timing of its entry.
In April SBI reportedly shortlisted IAG and two other international insurers as potential partners for a general insurance joint venture.
Indian newspaper reports say SBI has been in “advanced talks” with IAG, which would most likely have to pay a premium for a 26% stake, the maximum allowed by Indian authorities.
IAG has confirmed it is interested in the Indian market but has not specified the timing of its entry.