IAG considering stake sale in SBI General Insurance

Insurance Australia Group is considering selling a stake in SBI General Insurance.  IAG, currently holds 26% in the general insurer.

IAG is likely to sell its stake in multiple tranches. The Sydney-based company might sell a part of its stake before a proposed initial share sale of the local general insurer, and a part in the initial public offering, the person said, adding that it might sell more over a period of time.

IAG declined to comment on its stake sale plans.