General insurance companies ICICI Lombard and Bharti AXA announces merger
- ICICI Lombard General Insurance Company and Bharti AXA General Insurance Company have announced the merger of their businesses.
- After the merger, ICICI Lombard will become the third-largest non-life insurer in India.
- The merger would result in an entity with a combined annual premium of Rs 16,447 crore and a market share of nearly 8.7%.
Source: Financial Express