HDFC to acquire majority stake in Apollo Munich at Rs 1,347 cr

HDFC said it has agreed to buy a 51% of Apollo Munich Health Insurance Company Ltd for around Rs 1,347 cr. Apollo Munich will be merged with HDFC’s general insurance subsidiary, HDFC ERGO General Insurance Company Limited, even as Munich Re continues to remain invested in the new, merged entity. HDFC already has a joint […]

CCI approves Bandhan Bank merger with GRUH Finance

Regulatory body Competition Commission of India (CCI) approved the merger of Kolkata-based Bandhan Bank with affordable housing finance company GRUH Finance. On January 7, 2019, board of directors of both the companies had approved the merger and said that it would be completed within six months. The merger comes after the Reserve Bank of India […]

HDFC ties up with Bangalore-based Prestige Estate for Rs 2,500-cr affordable housing venture

Housing Development Finance Corporation Ltd has tied up with Bangalore-based real estate player Prestige Estates to invest Rs 2,500 cr in affordable housing. The tie-up has been implemented through its subsidiary HDFC Capital Advisors Limited, which is the investment manager to HDFC Capital Affordable Real Estate Fund 1. The fund, which focuses on middle income […]

HDFC ERGO setups community portal for insurance information seekers

HDFC ERGO General Insurance Company launched a web enabled HDFC ERGO Community portal for the consumers and the stakeholders of general insurance sector. The website has been modeled after tech forums, and is supposed to “serve as a channel for its users to research, get advice, discuss and share their experiences and knowledge on non-life […]

LIC continues to lose market share to ICICI Pru, HDFC Standard and others

Life Insurance Corporation of India, India’s biggest life insurer, continued to lose new business to private sector players, particularly ICICI Prudential and HDFC Standard, last financial year, according to industry numbers. LIC managed to get 78,000 cr of first-year life-insurance premium out of a total of 113,142 cr, implying a market share of 69.2% of […]

Mutual fund goes light on Bharti Airtel, Idea, ONGC, Cairn India

ICICI Prudential, India’s fifth biggest mutual fund by equity holdings, increased its cash holdings in May by selling most of its holdings in Bharti Airtel and much of its holdings in ONGC, Crompton Greaves, Cairn India, Hindalco and SJVN, publicly available numbers revealed. Mutual funds typically increase cash holdings when they expect share prices to […]