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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 ...
Future Generali India Insurance: Private Mumbai: 2007 12 HDFC ERGO General Insurance Company: Private Mumbai: 2002 13 ICICI Lombard: Private Mumbai: 2001 14 IFFCO TOKIO General Insurance: Private Gurugram: 2000 15 Kotak Mahindra General Insurance: Private Mumbai: 2015 16 Liberty General Insurance: Private Mumbai: 2013 17 Magma HDI General ...
No insurer shall accept any risk in any insurance business in India until the premium due has been received or advanced in the manner prescribed under section 64VB of the Insurance Act, 1938. If the insurance policy lapses without payment of the insurance premium within the due date, vehicle inspection is mandatory.
The Insurance Repository in India is a database of insurance policies.It allows policy holders to make revisions to a policy. It launched on 16 September 2013. It is the world's first of its kind.
ICICI Lombard General Insurance is the largest private-sector general insurance company in India. [ 5 ] In a 2016 fiscal, ICICI Bank sold a 9.0% stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at a company valuation of ₹ 172.25 billion (equivalent to ₹ 250 billion or US$2.9 billion in 2023). [ 6 ]
Tata AIG General Insurance Company, which started its operations in India on 22 January 2001, provides insurance to individuals and corporates. It offers a range of general insurance products including insurance for automobile , home , personal accident, travel , energy, marine , property and casualty as well as specialized financial lines.
Parliament passed a bill de-linking the four subsidiaries from the GIC in July 2002. There are 28 general insurance companies, including the Export Credit Guarantee Corporation of India and the Agriculture Insurance Corporation of India, and 24 life-insurance companies operating in the country. With banking services, insurance services add ...
HDFC formed this general insurance company with ERGO Insurance Group. HDFC holds 50.5% and ERGO holds 26% of the shares. 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 ]