Diabytes
Insurance Australia Group News
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Even though Irda has allowed banks to tie-up with three insurers from each segment of life, non-life and health to sell their products, State Bank of India has said it will only market schemes of its subsidiaries.
Under a 10-year strategic relationship, Berkshire will receive 20 percent of IAG's gross written premium and pay 20 percent of its claims. Berkshire will also take a 3.7 per cent stake in the group as the Australian firm pushes into Asia.
Within days of Parliament clearing the Insurance Bill, Insurance Australia Group (IAG) has decided to increase its stake in SBI's general insurance arm from 26 percent to 49 percent.
Insurance Australia Group Ltd will raise its stake to the maximum allowed 49 percent in a general insurance joint venture with State Bank of India.
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