IAG Sells Entire Stake In SBI General Insurance To Premji Invest, Warburg Pincus Affiliates

Bloomberg Quint | Oct 17, 2019 at 12:12 PM
  • Insurance Australia Group Ltd. will sell its 26 percent stake in SBI General Insurance to Napean Opportunities LLP and WP Honey Wheat Investment Ltd., State Bank of India said Thursday.
  • At present, the country’s largest lender and IAG own 7O percent and 26 percent, respectively.
  • SBI General Insurance, valued at over Rs 12,000 crore recently, is a joint venture of SBI and Insurance Australia Group.