HDFC Ergo General Insurance recently announced the completion of the merger of HDFC Ergo Health Insurance with itself after the receipt of final approval from the Insurance Regulatory and Development Authority of India (Irdai) last week. The merger makes HDFC Ergo the second-largest private insurer in the accident and health insurance business. Speaking on the amalgamation process, Deepak Parekh, chairman, HDFC Ergo General Insurance Company said, “It makes HDFC Ergo the one-stop-shop for all our general and health insurance offerings. Health insurance is expected to be one of the growth drivers for the general insurance industry, and with this merger, we are now a dominant player within the health insurance industry." Apollo Munich Health Insurance Co was renamed as HDFC Ergo Health after HDFC Ltd bought 50.80% stake of Apollo Hospitals Group in Apollo Munich for ₹1,485.14 crore last year.

Source: Mint November 19, 2020 09:11 UTC