Insurance Australia Group

SBI not to sell insurance plans of other companies

As per a notification issued by the regulator on September 15, banks are now allowed to tie-up with insurers to sell products through their branches.

SBI hopes to sell stakes in insurance units by year end

In SBI General Insurance, it owns 74 percent while Insurance Australia Group holds the remaining stake. Bhattacharya had earlier said that BNP Paribas Cardiff is interested in increasing its stake by 10 percent to 36 percent, while IAG is keen on raising its stake to 49 percent from the current 26 percent.

SBI to divest up to 10% stake in its life insurance venture

At present, SBI owns 74 percent of the total capital and BNP Paribas Cardif has the remaining 26 percent in the joint venture. SBI Life Insurance has an authorised capital of Rs 2,000 crore and a paid-up capital of Rs 1,000 crore, according to its website.

IAG to increase presence in India as part of Asia strategy

Insurance Australia Group is increasing presence in Asia including India in a bid to generate 10% of its business from the region within four years.

Australia's IAG reaffirms outlook; closes in on China JV

Insurance Australia Group was on track to meet its 2011 margin guidance before Monday's earthquakes in New Zealand but its was too early to assess if the tremors would have any impact on results, the company said on Tuesday.