HDFC General Insurance

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T he good times are back again for HDFC General Insurance Company Ltd.. After breaking-up with its international partner, Chubb, the company has found a new partner in the form of ERGO, which is part of the Munich Re group, and has picked up 26% stake in HDFC General Insurance. This marks an important event in the history of HDFC as the new partner is set to bring in all necessary ingredients which would propel the company forward. The company registered total premiums of Rs.190.16 crores in FY ’07. As Deepak Parekh puts it, “I am convinced that ERGO will bring in the vast insurance expertise, top-quality technical and operational know-how that made the ERGO Insurance Group a leading player in Germany and throughout Europe to the joint-venture company.” Of course performance in the upcoming fiscal will give some indication to where this combination is headed.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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