Irdai said it grants final approval for demerger of general insurance business of Bharti AXA General Insurance Co Ltd to ICICI Lombard General Insurance Co Ltd by way of scheme of arrangement.
The insurance comes with a personal accident cover for the policyholder. In the event of an accident leading to permanent disablement or loss of life, the policy ensures financial protection for the family.
The board of ICICI Lombard General Insurance "at its meeting held on August 21, 2020, considered and approved a 'scheme of arrangement' amongst Bharti AXA General Insurance (demerged company) and former company and their respective shareholders and creditors", the ICICI Bank promoted non-life insurer said in a late night filing on Friday.
Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent.
Airtel's new prepaid bundle at Rs 179 offers unlimited calling to any network, 2 GB data, 300 SMS along with a term life cover of Rs 2 lakh from Bharti AXA Life Insurance. The pack has a validity of 28 days.
The rider insurance will cover all riders in cars, autos and motos up to a maximum of Rs 5,00,000 in case of an accident on a trip.
Bharti AXA General recorded its maiden full-year profitability in the financial year 2018-19.
Top News
Latest News
