Subsidiary20 Jun 2026, 02:00 pm
SG Finserve Incorporates Wholly Owned Subsidiary SG Insurance Brokers Limited
AI Summary
SG Finserve Ltd has announced the incorporation of its wholly owned subsidiary, SG Insurance Brokers Limited, on June 19, 2026. This new entity is established to conduct the business of insurance broking, covering both life and non-life insurance sectors. The company received the Certificate of Incorporation on June 20, 2026. SG Insurance Brokers Limited has an authorized capital of ₹1,00,00,000, divided into 10,00,000 equity shares of ₹10 each, with SG Finserve Ltd holding 100% of the paid-up share capital. The commencement of operations is subject to obtaining necessary approvals from IRDAI.
Key Highlights
- SG Finserve Ltd establishes a wholly owned subsidiary for insurance broking.
- New entity named 'SG Insurance Brokers Limited' incorporated on June 19, 2026.
- Subsidiary will operate in life and non-life insurance broking.
- SG Finserve Ltd holds 100% shareholding in the new entity.
- Operations contingent on IRDAI approval.
Price Impact
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