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Societe Generale creates Indian life joint venture

Ben Norris

January 02, 2008 Reprints

P/C Insurers More + Less -

PARISSociete Generale Insurance has signed a memorandum of understanding with Indiabulls Financial Services Ltd. to create a life insurance joint venture in India.

Paris-based Societe Generale, through its French life insurance company, Sogecap, will own 26% of the future joint venture.

Indiabulls has already received the Reserve Bank of India's approval to invest in the joint venture and has also approached the Hyderabad, India-based Insurance Regulatory and Development Authority for regulatory approval.

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Societe Generale creates Indian life joint venture

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