10.9.16

HDFC Ergo completes acquisition of L&T Insurance

HDFC Ergo completes acquisition of L&T Insurance


HDFC Ergo General Insurance Company (HDFC ERGO) has completed the acquisition of 100 percent shares of L&T General Insurance Company (L&T Insurance) for Rs. 551 crore.

The company has recently received approvals from the Insurance Regulatory and Development Authority of India (IRDA) and Competition Commission of India. Mukesh Kumar, Executive Director at HDFC ERGO has been appointed as the new Managing Director & CEO of L&T General Insurance Company Limited. Subsequent to this transaction and post necessary regulatory approvals, L&T Insurance is proposed to be renamed as HDFC General Insurance Limited (HDFC General).

So let's discuss some questions related to this post:
1. HDFC ERGO has completed the acquisition of 100% shares of which Insurance, recently?
2. Who is the new Managing Director & CEO of L&T General Insurance Company?
Source - The Hindu
3. Expand the term IRDA?

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