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 …
General Insurance Corp., India’s largest reinsurer, and its owner will seek as much as 113.7 billion rupees ($1.7 billion) after setting terms for the third-biggest initial public offering on record in the South Asian nation. GIC will offer 17.2 million …
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 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 …
Value investor Prem Watsa’s Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India’s central bank is allowing a foreign investor to purchase a majority stake in a domestic …
Prime Minister Narendra Modi needs to offer much more than just his best intentions to clean up India’s whimsical tax regime to help convince insurers. Companies from Allianz SE to American International Group Inc. are avoiding offering tax-liability coverage in …
Fairfax India Holdings Corp., the $1 billion fund created by Toronto-based investor Prem Watsa, offered to buy 26 percent more in Indian brokerage IIFL Holdings Ltd.* for $255 million. Fairfax India announced an offer to purchase about 83.1 million shares …
American International Group Inc. has waited 13 years in India to raise its stake in a local venture from a maximum allowed 26 percent. That wait is about to get longer. Opposition lawmakers, during the current session of parliament scheduled …
State Bank of India, the country’s largest lender, is considering share sales in its insurance and asset-management units to meet tighter capital requirements. “We are in talks with our joint-venture partners regarding the listing of the insurance units,” Chairman Arundhati …
