trending Market Intelligence /marketintelligence/en/news-insights/trending/4WV7NtxQ4c1bdDu0JBltqQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Mitsui Sumitomo raises stake in Indian JV to 40%

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Mitsui Sumitomo raises stake in Indian JV to 40%

TubeInvestments of India Ltd. said March 31 that it completed the of 41,832,798 equityshares with a face value of 10 rupees each in Cholamandalam MS GeneralInsurance Co. Ltd. to Mitsui Sumitomo Insurance Co. Ltd., for a totalconsideration of 8.83 billion rupees.

The MS&AD Insurance Group Holdings Inc. unit'sshareholding in Cholamandalam rose to 40% from 26% following the transaction,while Tube Investments' shareholding in the Indian insurance firm dropped toabout 60% from about 74%.

Tube Investments is a unit of the Murugappa Group.

Asof April 1, US$1 was equivalent to 66.36 Indian rupees.