Generali Mulling Exit From India

Last year, Premji Invest had acquired a 16.01 per cent stake in SBI General Insurance Company from Insurance Australia Group. Premji Invest and SBI General Insurance are exploring a potential joint bid to acquire Future Group and Generali Group’s joint venture, Future Generali.

Premji Invest, Wipro founder and SBI General Insurance are likely to place a joint bid to acquire a stake in the Kishore Biyani-led Future Group JV. Future Group has been looking to offload its stake in the JV for a while now while Italy’s Generali Group is also said to be considering an exit from the Indian market.

If Generali exits the JV, this could be a full-blown acquisition for Future Generali. Premji Invest and SBI General Insurance are likely to merge Future Generali General Insurance with SBI General Insurance if the deal goes through.

Future Group is likely to pay off a part of its existing debts through the stake sale given the group’s fluid financial situation.