Aviva, Generali Group look to hike stakes in Indian joint ventures

This comes in wake of increase in FDI limit to 74% in insurance sector

With the government increasing the limit of foreign investment in the insurance sector to 74 per cent, global insurance majors such as Aviva Plc and Generali Group have initiated discussions to raise shareholding in their respective Indian joint ventures.

The two foreign insurance companies have started deliberations with their Indian partners, said a person aware of the development, but are yet to reach conclusion, the person added.

The UK-based Aviva Plc and Dabur Invest Corp have an insurance joint venture — Aviva Life Insurance Company India. The foreign partner holds 49 per cent stake in the JV, and has started