Blackstone has partnered with former HDFC Ergo managing director and chief executive Anuj Tyagi to launch a general insurance company, people familiar with the development said. This would be the first proposed new insurance venture with 90% foreign ownership since India raised the foreign direct investment (FDI) limit in the sector to 100%. The proposed venture has filed its R1 application with the Insurance Regulatory and Development Authority of India (IRDAI), seeking an in-principle approval to set up the insurer, sources said. The application is currently under regulatory review.