Prism Johnson Limited announced today, March 2, 2026, that its Board of Directors has approved the sale of its entire 51% shareholding in its material unlisted subsidiary, Raheja QBE General Insurance Company Limited (RQBE), to QBE Holdings (AAP) Pty Limited. The aggregate consideration for this proposed transaction is ₹324 Crores. The sale marks the termination of Prism Johnson's joint venture with Australia's QBE Group in the general insurance business in India. Upon completion, RQBE will cease to be a subsidiary of Prism Johnson. The transaction is subject to several conditions precedent, including the receipt of approval from Prism Johnson's shareholders, the Insurance Regulatory and Development Authority of India (IRDAI), and other necessary statutory and regulatory approvals. Shareholder approval will be sought through a postal ballot. The revenue contributed by RQBE was ₹498.9 Crores (6.82% of consolidated turnover) and its net worth was ₹253.66 Crores (17.16% of consolidated net worth) as of March 31, 2025. The completion of the transaction is estimated to occur within 9 months from the execution date of the Share Purchase Agreement, subject to the fulfillment of these conditions.
