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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]
HDFC ERGO General Insurance Company Limited is an Indian insurance company. It is a joint venture firm between HDFC and ERGO International AG. It is one of the insurance entities of the Munich Re Group in Germany operating in the insurance field under the BFSI sector. [2]
Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding a 1.95% stake each while the remaining 12% is free float stake with public investors. It has Assets under management (AuM) worth ₹ 352,422 crore (US$41 billion) and a Gross Written Premium (GWP) of ₹ 67,320 crore (US$7.8 billion) as of March 2023. [ 2 ]
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara.It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
ICICI Prudential Life Insurance started its operations in 2001. The life insurance arm was established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited [10] with assets under management (AUM) of approx. ₹ 1 billion (US$12 million). [11] In 2005, the company crossed the mark of 1 million policies. [12]
Star Health Insurance launched its ₹ 7,249 crore (US$980.68 million) initial public offering (IPO) in December 2021. [6] [7] [8] After the issue was undersubscribed, it reduced the IPO size to ₹ 6,400 crore (US$865.82 million). [9]
The prime minister of India announced an insurance repository system, helping policyholders buy and maintain insurance policies in electronic form rather than on paper. Insurance repositories , like share depositories or mutual fund transfer agencies, will hold electronic records of insurance policies issued to individuals as electronic ...
HDFC Life's associated companies include HDFC Bank, HDFC International Life and Re Company Limited, HDFC Pension, [8] HDFC MF, HDFC Sales, HDFC Ergo, HDB Financial Services (HDBFS), HDFC Securities, HDFC RED, [15] HDFC Ventures Trustee Company, GRUH Finance, HDFC Trustee Company, HDFC Developers, HDFC Property Ventures, HDFC Investments, Credit Information Bureau (India) Ltd.