SBI to earn over Rs 400 cr prem from non-life JV

Foreign
partner

Premium Paid (Rs cr)

Canara Bank (51) and
Oriental Bank of
Commerce (23),

HSBC Insurance
 (Asia Pacific)
Holdings (26)

125.0

Housing Development
Finance Corporation
(HDFC) (74)

Ergo International
AG (26)

 202.5

Bank of Baroda (44) and
Andhra Bank (30)

Legal & General
Group (26)

 220.0

Union Bank (51) and
Bank of India (23)Dai-ichi Mutual Life
Insurance (26) 170.0 India Bulls Financial
Services (74)Sogecap (26) 97.3 Allahabad Bank (30),
Indian Overseas Bank (19)
Karnataka Bank (15)
Dabur Investment Corporation (10)Sompo Japan
Insurance (26) 88.0 Figures in brackets are % holding
A memorandum of understanding between SBI and IAG is likely to be finalised by the end of next month, a senior SBI executive said.

 IAG is facing a takeover threat from another Australian insurer QBE, which made a $7.6-billion offer last month. QBE has a non-life insurance tie-up with the realty group the Rahejas.