The attempt will be to have a name closer to HDFC Ergo,” said Ritesh Kumar, managing director and chief executive officer, HDFC Ergo. L&T Insurance doesn’t offer a stand-alone critical illness plan; it is a part of its basic health insurance products. HDFC Ergo, on the other hand, is a 51:49 joint venture between HDFC Ltd and Ergo International AG of the Munich Re group. In the case of health insurance claims, L&T Insurance currently processes claims through a third party administrator (TPA), whereas HDFC Ergo has an in-house process. With the buyout of L&T Insurance, HDFC Ergo will also acquire the insurer’s policyholders and distribution network.

Source: Mint June 13, 2016 15:00 UTC