Piramal eyes general insurance acquisitions

Piramal Enterprises will continue to look for acquisition opportunities in general insurance after dropping out of the race for Reliance General Insurance, the company's chairman Ajay Piramal said.

Last year, Piramal was one of the bidders for Reliance General Insurance, a subsidiary of Reliance Capital, which is undergoing bankruptcy proceedings. Piramal dropped out, leaving the ground for others who bid for the whole group, with IndusInd Holdings emerging as the highest bidder.