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Which Company has acquired Bharti AXA General Insurance Company Ltd?
  • a)
    Bajaj Allianz General Insurance
  • b)
    ICICI Lombard General Insurance
  • c)
    New India Assurance
  • d)
    Life Insurance Corporation (LIC)
  • e)
    General Insurance Company
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which Company has acquired Bharti AXA General Insurance Company Ltd?a)...
The Competition Commission of India (CCI) under Section 31(1) of the Competition Act, 2002, approved acquisition of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited (ICICI Lombard).
As per the proposed combination, the whole general insurance business of Bharti AXA will be transferred to ICICI Lombard by way of demerger, considering that ICICI Lombard will issue shares to Bharti AXA. The combined entity (proposed merged non-life insurance company) is likely to have a market share of 8.7% on a pro forma basis.
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Which Company has acquired Bharti AXA General Insurance Company Ltd?a)Bajaj Allianz General Insuranceb)ICICI Lombard General Insurancec)New India Assuranced)Life Insurance Corporation (LIC)e)General Insurance CompanyCorrect answer is option 'B'. Can you explain this answer?
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