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In May 2021, Housing Development Finance Corporation (HDFC), entered into a share purchase agreement for the sale of 44,12,000 equity shares of Rs. 10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO, in accordance with the direction of Reserve Bank of India to reduce its shareholding in the latter to 50% or below ...
HDFC formed this general insurance company with ERGO Insurance Group. HDFC holds 50.5% and ERGO holds 26% of the shares. By the end of September 2013, its market share in general insurance stood at 4.1% (overall) in terms of gross gross direct premium in first half year of FY 2013–14. [15]
The company is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing finance institutions and Abrdn, a global investment company. [5] As of 31 March 2020, the promoters; HDFC Ltd. and Standard Life (Mauritius Holdings) 2006 Ltd. hold a 51.69% and 34.75% stake in HDFC Life respectively. [5]
After ING's exit from India in January 2013, Exide Industries acquired the remaining 50% stake in ING Vysya Life Insurance, becoming the sole owner. [8] In May 2014, following approvals from the Insurance Regulatory and Development Authority (IRDA) and the Ministry of Corporate Affairs, the company was renamed Exide Life Insurance Company Limited (Exide Life Insurance). [9]
HDFC Securities is the stock-broking arm of India’s largest private-sector lender, HDFC Bank, [2] and began operations in April 2000. It began as a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited. [3] Along with its stock broking services, HDFC Securities is a distributor of financial products.
Home First Finance primarily functions in the affordable housing segment, providing home loans to low and middle-income individuals. [22] [23] As of March 2024, 86% of its gross loan assets are from home loans, and 13% from the loan against property vertical. [2]
By 2020 Indian Insurance is a US$280 billion industry. However, only 500 million people (36.23% of the total population of 1 billion) are covered under Mediclaim. [6] ...
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