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The joint venture partners of IFFCO-TOKIO General Insurance Co. Ltd have pumped in additional capital of Rs 125 crore in the entity.
The capital infusion has come from Indian and foreign promoters in respective proportion of their shareholding.
While IFFCO and its Associates hold 74 per cent stake in the general insurance venture, the remaining 26 per cent is with Tokio Marine Asia Private Ltd.
“We view this capital infusion as a testimony to the promoters' confidence in the joint venture. At a time when the insurance market is competitive and growing, we plan to increase market share and sustain profitable growth”, Mr S. Narayanan, Managing Director and CEO, IFFCO-TOKIO General, said in a statement here.
With this, the total capital (including the premium component) of the company stands increased to Rs 526.20 crore as at March-end 2012.
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