Indiabulls, French partner sever ties for life insurance JV

Societe Generale (SG), France s second-largest lender, and Indiabulls Financial Services have decided to sever ties for setting up a life insurance joint venture in India. Sources close to Indiabulls confirmed the development to FE. While Indiabulls was keen to go ahead with the joint venture, SG had decided to pull out of the one-and-half year partnership just before launching operations due to the financial problems faced by it internationally in the aftermath of the global financial crisis. Although it is not clear whether SG will change its mind at a later stage, sources point out that Indiabulls has already started ...

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