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March 27, 2015 7:03 AM ET

Insurance

Company Overview of SBI General Insurance Company Limited

Company Overview

SBI General Insurance Company Limited provides insurance products to individuals and businesses. Its individual insurance products include insurance products for motor private cars and two wheelers; long term home insurance products; travel insurance products; group personal and individual personal accident insurance products; and health, critical illness, and hospital daily cash insurance products. The company’s business insurance products comprise fire insurance products for standard fire and special perils, and consequential loss (fire); group health insurance products; motor insurance products for tractors and other farm vehicles, and commercial motors; marine cargo insurance products; p...

"Natraj", 101, 201 & 301

Junction of Western Express Highway

and Andheri Kurla - Road

Andheri (East)

Mumbai,  400 069

India

Founded in 2009

Phone:

91 98 1902 4779

Fax:

91 18 0022 7244

Key Executives for SBI General Insurance Company Limited

Chief Executive Officer, Managing Director and Director
Head - Finance & Administration
Deputy Chief Executive Officer
National Head of Distribution
CRO and Senior Vice President of Internal Audit
Compensation as of Fiscal Year 2014.

SBI General Insurance Company Limited Key Developments

IAG To Up Stake In Joint Venture With SBI

Insurance Australia Group Limited (ASX:IAG) will raise its stake to the maximum allowed 49% in a general insurance joint venture with State Bank of India, the lender said, following rule changes earlier this month. IAG currently owns 26% of SBI General Insurance Company Limited, with State Bank of India (BSE:500112), holding 74%. After the deal, SBI's stake in the venture will fall to 51%, it said. SBI said in its regulatory filing that the executive committee of its central board had decided to begin the process, including the appointment of a valuer to decide on the price of shares in the unlisted general insurer.

IAG In Talks To Increase Stake In SBI General Insurance

Insurance Australia Group Limited (ASX:IAG) is planning to increase its stake in SBI General Insurance Company Limited from 24% to 49%. Steve Hollow, Deputy Chief Executive Officer of SBI General Insurance, said, "IAG is in talks with State Bank of India (BSE:500112) in this regard. The shareholders’ agreement provide for increasing stakes in the company."

SBI To Divest Stake In Life and General Insurance

State Bank of India (BSE:500112) is planning to divest part of its stakes in SBI Life Insurance Company Limited and SBI General Insurance Company Limited as its joint venture partners want to increase their stakes. SBI holds 74% stake each in SBI Life Insurance, its joint venture with BNP Paribas Cardif S.A.; and SBI General Insurance, its joint venture with Insurance Australia Group Limited (ASX:IAG). According to SBI, domestic and international investors have also shown interest in picking up its stakes in the two JVs.

Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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