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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 ...
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]
HDFC formed this general insurance company with ERGO Insurance Group. HDFC held 50.5% and ERGO held 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]
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Members of the ERGO Group include the insurance subsidiaries D.A.S., DKV and Europäische Reiseversicherung AG, and the IT service provider ITERGO. With a gross premium written of about €17.8bn in 2018, ERGO is one of the largest primary insurers in Germany and Europe.
The company launched ET Money Genius, a premium membership service to offer personalised investing knowledge to its users, in January 2022. [ 11 ] 360 ONE WAM, a wealth manager for ultra-high-net-worth individuals, announced to the stock exchanges on June 12 that it has entered into a definitive agreement to acquire ET MONEY, a digital platform ...
Headquartered in Mumbai, [5] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. [6] It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973. [7] Previously, it was a subsidiary of the General Insurance Corporation of India (GIC).
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]