Piramal, Zurich plan joint bid to take over Reliance General Insurance: Reports

According to reports, Piramal Group and Zurich Insurance have planned a joint bid to take over Reliance General Insurance, a subsidiary of debt-ridden Reliance Capital (RCL). Piramal and Zurich may hold 50 per cent each in the proposed special purpose vehicle (SPV). Zurich has already confirmed its offer for a stake, while Piramal is yet to respond on the topic.