Generali to acquire a majority stake in Future Generali India Life Insurance and Future Generali P&C Insurance from Future Enterprises and Industrial Investment Trust for $192m.

Generali, a life and non-life insurance and reinsurance provider, agreed to acquire a 25% stake in Future Generali India Life Insurance, a life insurance provider, and a 16% stake in Future Generali P&C Insurance, a property and casualty insurance provider, from Future Enterprises, a India-based company which is engaged in the business of multi brand retail trading, and Industrial Investment Trust, an investment trust company, for c. €192m. “Increasing Generali’s stake in our Indian Life and P&C insurance businesses represents a further step ahead in our growth journey in this high potential market. With an expected double-digit annual growth rate, India’s insurance market offers considerable opportunities, and we look forward to deepening our presence in this geography, becoming Lifetime Partners to an increasing share of Indian customers,” Jaime Anchústegui Melgarejo, Generali Group CEO International.