ICICI Bank terminates joint venture agreement with Fairfax

Posted on:05 Jul 2017 09:36:03
ICICI Bank terminates joint venture agreement with Fairfax
05 July 2017 Current Affairs: ICICI Lombard General Insurance Company terminates with Canada-based investment firm Fairfax Financial Holdings.

The Insurance Regulatory and Development Authority of India (IRDAI) already given its initial approval to Fairfax’s new insurance venture.

In May 2017, Fairfax Financial Holdings offloaded 12.18 per cent in ICICI General to obtain including Warburg Pincus, Tamarind Capital, and IIFL Special Opportunities Fund, for 2,473 crores.

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