trending Market Intelligence /marketintelligence/en/news-insights/trending/9qvcicb4mw6fzk50irlxna2 content esgSubNav
In This List

Report: Allahabad Bank, Indian Overseas Bank could exit Universal Sompo General

Blog

Banking Essentials Newsletter: 7th February Edition

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Report: Allahabad Bank, Indian Overseas Bank could exit Universal Sompo General

Indian state-run lenders Allahabad Bank and Indian Overseas Bank are considering leaving Universal Sompo General Insurance Co. Ltd., Business Standard reported Aug. 6.

Universal Sompo General is a joint venture between the two banks, Karnataka Bank Ltd., Japan's Sompo Japan Nipponkoa Insurance Inc. and Dabur Investment Corp.

Allahabad Bank is also planning to leave asset reconstruction company ASREC (India) Ltd, where it has a 27% stakeholding. The lender intends to exit both ventures by the fourth quarter of the 2018 financial year, the report added.