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The merger between HDFC Bank and HDFC is expected to complete by July 2023.
Its gross written premium (GWP) rose by 12.6 percent to Rs 4,257.5 crore during the period, against Rs 3,781.2 crore in the year-ago period, the firm said in a release.
The third largest private non-life insurer, on a standalone basis, had closed fiscal 2017 with a total premium of Rs 6,289 crore.
The company raised fund from HDFC Ergo General Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, RBL Bank, Shriram Life Insurance, Small Industries Development Bank of India (SIDBI) and private equity funds such as Arpwood Investments and Faering Capital, a release said.
HDFC Ergo General Insurance, which has just completed acquisition of L&T General Insurance to become the third largest private sector non-life insurer, has set a target of clocking 45 per cent business growth of the combined entity this year.
The only company to win The Excellence award 175 top ...
HDFC ERGO General Insurance, one of India’s key private insurance company has been conferred the Gold Shield award by Institute of Chartered ...
HDFC ERGO General Insurance on Thursday announced that Germany's ERGO International will buy 22.9 percent additional stake in the company.
In March this year, Parliament had passed the Insurance Bill allowing hiking overseas investment cap in insurance companies to 49 percent from the current 26 percent.
