Economic TimesLean R·
Japan's SOMPO seeks control of Universal General
Japan's SOMPO Insurance is discussing increasing its stake in Universal SOMPO General Insurance. The Japanese insurer aims to acquire shares from existing Indian shareholders to reach majority control. This move follows the government's liberalization of foreign direct investment norms in the insurance sector. Universal SOMPO has shown strong growth and profitability in recent years. Additional capital is needed to support the company's expansion and technological investments.
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