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IFFCO became an autonomous cooperative, expanding its presence and partnerships in India and abroad. 2000 saw the establishing of IFFCO Tokio General Insurance Company Ltd., and the launch of customized rural-centric insurance products. IFFCO acquired shareholding in the Oman India Fertilizer Company.
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 ...
It was found that the company had fraudulently failed to pay out insurance claims in over 1000 cases. They had also neglected to pay benefits on another 85,000 insurance products and overcharged policyholders on premiums, causing a major scandal involving over 7 billion yen ($86,000,000 in today’s money) and leading to penalties for over 170 ...
The New India Assurance Co. Ltd. (NIACL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai , [ 5 ] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. [ 6 ]
The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance Company Limited, Madras, Oriental Fire & General ...
HDFC Ltd. And ERGO International AG formed a joint venture firm named HDFC ERGO General Insurance Company Limited. [3] ERGO became a 49% stakeholder in the Company in 2015. In June 2019, HDFC announced plans to acquire a 51.2 percent stake in Apollo Munich Health Insurance and later merged it with its general insurance arm, HDFC ERGO. [4]
IFFCO Group is a business house based in Dubai, the United Arab Emirates. Founded in 1975 by Indian entrepreneur Abdul Razak Allana, the company is today managed by his sons Feroz, Irfan and Shiraz. [ 1 ]
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]