Iffco Tokio infuses R125-crore capital

Written by Press Trust of India | New Delhi | Updated: Apr 12 2012, 09:00am hrs
Private sector general insurer Iffco Tokio said on Wednesday it has made fresh capital infusion of R125 crore to fund expansion. With this, the total capital infusion by promoters stands at R526.2 crore at March 2012, Iffco Tokio General Insurance said in a statement.

At a time when the insurance market is both competitive and growing, we have plans to increase market share and sustain profitable growth, Iffco Tokio managing director S Narayanan said.

The infusion has come from Indian and foreign promoters in respective proportion of their share holding, it said, adding that Iffco and its associates hold 74% stake in the general insurance venture while the remaining 26% is with Japan-based Tokio Marine Asia Private Ltd.