Bajaj Finserv Limited (BFL), a leading financial
services company of the Bajaj Group, is considering selling part of its stakes
in insurance joint ventures to its foreign partner Allianz once the Insurance
Laws (Amendment) Bill is passed.
The Insurance Laws (Amendment) Bill, which proposes to raise foreign direct investment (FDI) in insurance to 49 per cent from current 26 per cent, is pending in Rajya Sabha, the upper house of the Indian parliament, since 2008.
Bajaj Finserv is present in insurance businesses through 74 per cent stake in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance.
Both the life insurance business and the non-life insurance business were generating funds to sustain themselves and no further capital infusion was required, said Bajaj Finserv Managing Director Mr. Sanjeev Bajaj.
The Insurance Laws (Amendment) Bill, which proposes to raise foreign direct investment (FDI) in insurance to 49 per cent from current 26 per cent, is pending in Rajya Sabha, the upper house of the Indian parliament, since 2008.
Bajaj Finserv is present in insurance businesses through 74 per cent stake in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance.
Both the life insurance business and the non-life insurance business were generating funds to sustain themselves and no further capital infusion was required, said Bajaj Finserv Managing Director Mr. Sanjeev Bajaj.
Source: http://www.insuringindia.com
No comments:
Post a Comment
So, what do you think?