Irda keeps close watch on AIG Asia biz sale

Post the $35.5-billion deal between UK-based Prudential and America International Group (AIG) where former would buy out the latter s Asian life insurance arm Tata Group is planning to revamp its insurance operations in India. The group is having two joint ventures in the country with AIG partnership. Both Tata Group and AIG have floated two joint ventures Tata AIG Life Insurance and Tata AIG General Insurance, where the Indian conglomerate holds 74% each. Industry sources point out that though it is not clear what are the exact plans of Tata group over the AIG s 26% stake, it is now clear ...

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