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CCI approves acquisition of General Insurance Business of Bharti AXA by ICICI Lombard
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....CI approves acquisition of General Insurance Business of Bharti AXA by ICICI Lombard <br>News and Press Release<br>Dated:- 3-11-2020<br><BR>The Competition Commission of India (CCI) approves acquisiti....
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....on of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited (ICICI Lombard) under Section 31(1) of the Competition ....
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....Act, 2002. ICICI Lombard is a general insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI) and is engaged in providing a comprehensive and well-divers....
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....ified range of general insurance products, including motor, health, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. Bharti AXA is a gener....
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....al insurance company registered with the IRDAI and is a joint venture held by Bharti General Ventures Private Limited (51%) and Societe Beaujon (49%). It is engaged in providing general insurance prod....
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....ucts, including motor, health, travel, crop and home insurance to its customers. Pursuant to the proposed combination, the entire general insurance business of Bharti AXA would be transferred by way ....
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....of a demerger to ICICI Lombard in consideration of issuance of shares by ICICI Lombard to Bharti AXA. Detailed order of the Commission will follow.<BR> News - Press release - PIB....