Multiple choice

SBI General Insurance Company is a joint venture between the State Bank of India and

  1. American Insurance Group (AIG)

  2. JP Morgan

  3. Insurance Australia Group (IAG)

  4. ING Group

  5. Morgan Stanley
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The SBI General Insurance Company, the 74:26 joint venture between the State Bank of India and the Insurance Australia Group Limited (IAG), will start operations in full swing from August with an initial equity capital of Rs 150 crore, according to the SBI Chairman, O. P. Bhatt. Of the initial capital base, SBI will contribute Rs 111 crore while the foreign partner will contribute Rs 39 crore, in line with the stake holding ratio. IAG will also invest Rs 503 crore as premium to the equity share

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