MUMBAI (Reuters) - State Bank of India, the country's top lender, has shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture, the Times of India paper said on Wednesday.
The other two are a German firm and a U.S.-based firm, it said citing industry sources, without naming the firms.
"SBI is likely to demand a significant premium," the paper said.
A spokesman for SBI said he had no immediate comment.
Foreign insurance firms are allowed to hold up to 26 percent in a venture with a local partner in India.
State-run SBI has a venture with Cardiff, a unit of BNP Paribas, for life insurance.
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