Deal Corner

Deal Brief

WestBridge Capital (“WBC”) has entered into a joint venture with Mr. Neelesh Garg (former MD & CEO of Tata AIG General Insurance), to set-up a general insurance company, Kiwi General Insurance (“Kiwi”). Kiwi has recently received approval for their R1 filing from the insurance regulator, Insurance Regulatory & Development Authority of India.

Our Role

We, at Nishith Desai Associates, acted as legal counsels for WBC and advised on legal and regulatory aspects, including structuring of the venture, drafting and negotiation of the definitive agreements and filing of the requisite forms with IRDAI for the set-up of the general insurance venture.

Deal Team

Nishchal Joshipura

Muqeet Drabu

Gurkeerat Singh

PRESS COVERAGE

https://economictimes.indiatimes.com/markets/stocks/news/kiwis-general-insurance-application-clears-r1-stage/articleshow/122542196.cms?from=mdr

https://reinasia.com/kiwi-general-insurance-secures-initial-regulatory-approval/