Fairfax-backed Go Digit gets green light for life insurance1 min read 09 Jun 2023, 11:24 PM IST
India's insurance regulator has granted approval for Go Digit Life Insurance, which will be backed by Canadian billionaire Prem Watsa's Fairfax Financial Holdings. The new firm will become the country's 25th life insurer and is expected to start with an initial capital of INR7bn-INR10bn ($95m-$136m). Fairfax is likely to hold a 30%-40% stake in the joint venture initially, with Go Digit Infoworks owning 80% of Go Digit Life. The life insurer may also place minority stakes with certain banks to strengthen its bancassurance network.
Mumbai: India’s insurance regulator on Friday granted its approval for Go Digit Life Insurance Ltd, which will become the 25th life insurer in the country.