Articles by Anto Antony and Stephan Kahl

Ambani’s Jio in Talks With Allianz for Insurance JVs in India

Jio Financial Services Ltd., controlled by billionaire Mukesh Ambani, has held talks with Allianz SE to set up an insurance partnership in India as the German firm seeks to scrap two existing joint ventures in the country, according to people …

Allianz Mulls Ending Decades-Old Bajaj Insurance India JVs

Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life Insurance Co. …

Indian Tycoon Birla Weighs Selling Insurance Brokerage Unit: Sources

Aditya Birla Capital Ltd., controlled by billionaire Kumar Mangalam Birla, is considering selling its insurance brokerage unit as the group seeks to restructure its financial services business, people familiar with the matter said. The publicly traded company has held talks …

KKR Nears Deal to Buy Stake in India’s Shriram General Insurance Ahead of IPO

KKR & Co. is nearing a deal to buy a 10% stake in Shriram Capital Ltd.’s general insurance unit for about 18 billion rupees ($237 million), according to people familiar with the matter, as the Indian financial group embarks on …

India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses

Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased work from …

Bitcoins Worth $3M Stolen from India’s Cryptocurrency Trading Platform Coinsecure

One of India’s biggest cryptocurrency trading platforms has lost about 438 Bitcoins worth some 190 million rupees ($3 million), allegedly due to a rogue employee. An official at Delhi-based Coinsecure was extracting Bitcoin to distribute to customers and he claims …

Apax, Carlyle Reported Among Bidders for Indian Insurer Royal Sundaram

Apax Partners and Carlyle Group LP are among suitors weighing bids for a stake in Indian insurer Royal Sundaram General Insurance Co., people with knowledge of the matter said. The unit of Mumbai-listed Sundaram Finance Ltd. has started a process …

Indian IPOs Headed for Record Year as Insurers Seek to Raise Funds

Indian initial public offerings are headed for a record year, as a rush of insurers seek to ride a rally in the local market and tap increasing investor demand for financial assets. At least four Indian insurers are aiming to …

Warburg Seeks to Buy Minority Stake in India’s ICICI Lombard from Fairfax

Warburg Pincus is the frontrunner to acquire a minority stake in Indian insurer ICICI Lombard General Insurance Co. from Prem Watsa’s Fairfax Financial Holdings Ltd., according to people familiar with the matter. Toronto-based Fairfax, which owns 35 percent of ICICI …

India’s Bank of Baroda Eyes Sale of Insurer, Asset Management Stakes

Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the matter. The Mumbai-based bank is seeking to …