American International Group and Tata Group, one of India’s largest and most successful industrial conglomerates, have joined forces to launch insurance ventures in life insurance and p/c in India.
In accordance with new laws, which recently went into force, AIG will own 26 percent of Tata AIG Life Insurance Company Ltd. and Tata AIG General Insurance Company Ltd., the maximum foreign participation allowed, and Tata the majority 74 percent stake.
The company’s hope to become operational within 2-3 months of the receipt of approval from India’s Insurance Regulatory Development Authority.
Topics Property Casualty AIG India
Was this article valuable?
Here are more articles you may enjoy.
Industry Reacts to Senators’ Letter for Claims Data and Recent Reports 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
AI’s Water Strain Includes Surging Demand From Electricity Use 
‘Unusual’ Isaias Brings Winds, Downed Trees But Fewer Claims Than Expected 
