Generali to become majority shareholder of Future Generali India Insurance and Future Generali India Life

Generali has become the majority shareholder of its life and non-life joint ventures in India.

The Italian group has acquired 25% of the capital of its non-life subsidiary Future Generali India Insurance (FGII) from Future Group. The transaction was valued at 145 million EUR (163.6 million USD).

The insurer has also bought the entire 16% stake of Industrial Investment Trust in Future Generali India Life (FGIL) for 26 million EUR (29.3 million USD).

Generali now holds 74% of FGII's capital and 68% of FGIL's.

Both transactions are still pending the approval of the competent authorities.