Private Equity

PE Fund Investments

WestBridge, ex-CEO of Tata AIG Neelesh Garg in JV for general insurance

Economic Times  

WestBridge Capital is to launch a new general insurance venture - with a focus on AI-powered, digital-first services - by joining forces with Neelesh Garg, outgoing managing director and chief executive officer (CEO) of Tata AIG General Insurance,. The new entity will launch by mid-2025 and focus on the health and motor insurance spaces. WestBridge, which manages over USD 8 Billion in investments in India, will hold a majority stake in the proposed venture, with Garg taking a 10% ownership position.This will mark the second investment from WestBridge Capital in the insurance sector following its successful part-exit from Star Health Insurance through its IPO in 2021.