QBE Insurance Group (ASX:QBE) has acquired full control of Indian carrier Raheja QBE General Insurance following 18 years of joint ownership with Prism Johnson, the company said Thursday.
Sole ownership of the Indian entity will allow QBE to explore new opportunities for product and operational innovation, the company said.
As part of the deal, Raheja QBE is being renamed as just QBE.
Shares of QBE Insurance gained 1% in recent Thursday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.