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IRDA gave approval for the merger of Bharti Axa General with ICICI Lombard Tag

Daily Market Analysis

Daily Market Analysis – 30th Nov 2020

byMayuri SinghNovember 30, 2020

IRDA gave approval for the merger of Bharti Axa General with ICICI Lombard. The deal would help ICICI Lombard become the third-largest non-life insurer. The merged business will have a market share of around 8.7 percent on a Pro-forma basis. Bharti Enterprises currently owns a 51 percent stake in Bharti AXA General Insurance, while French insurer AXA has 49 percent. Post demerger, Bharti AXA...