LeapFrog sells minority stake in Mahindra Insurance Brokers to XL Group
Private equity firm LeapFrog has sold its 20 per cent minority stake in Mahindra Insurance Brokers Ltd (MIBL), to XL Catlin, a subsidiary of XL Group. MIBL is a subsidiary of Mahindra & Mahindra Financial Services Ltd. Since inception in 2004, MIBL has serviced over eight million insurance cases,