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American International Group and Tata Group, one of India’s largest and most successful industrial conglomerates, have joined forces to launch insurance ventures in life insurance and p/c in India.

In accordance with new laws, which recently went into force, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ will own 26 percent of Tata ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Life Insurance Company Ltd. and Tata ÌìÃÀÍøÕ¾´«Ã½´«Ã½ General Insurance Company Ltd., the maximum foreign participation allowed, and Tata the majority 74 percent stake.

The company’s hope to become operational within 2-3 months of the receipt of approval from India’s Insurance Regulatory Development Authority.

Topics Property Casualty ÌìÃÀÍøÕ¾´«Ã½´«Ã½ India