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Sachin Bansal in talks to buy Future Generali Life Insurance

Aug 31, 2020 17:32 IST

Sachin Bansal, co-founder of e-commerce giant Flipkart, is reportedly in talks with Kishore Biyani's Future Group to buy out its life insurance JV arm Future Generali India Life Insurance Co. Ltd. 

Bansal's financial services startup Navi Technologies is likely to acquire the Future Group's insurance firm for Rs 1,400-1,500 crore, say reports.

The deal is in a formal proposal stage and is likely to be announced soon. The embedded value of Future Generali Life is estimated to be around Rs 800 crore and a multiple of 1.5-2 times, which seems to be a decent valuation as per the industry standards, according to a report in Mint.