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IRDAI approves merger of Bharti AXA General with ICICI Lombard
Nov-28-2020

Insurance Regulatory and Development Authority of India (IRDAI) has approved the merger of Bharti AXA General with ICICI Lombard General Insurance Company. ICICI Lombard is progressing applications for receipt of requisite approvals from other concerned regulators for the transaction. Upon closing of the proposed transaction, the consolidated entity will have a market share of about 8.7 per cent on a pro forma basis in the non-life business. The proposed transaction is expected to result in value creation for all stakeholders through meaningful revenue and operational synergies. Further, policyholders should benefit from an enhanced product suite and deeper customers connect touch points.

ICICI Lombard General Insurance Company offers its customers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.

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