 "Representative image. Illustration: Ajay Mohanty")
Instead of merging HDFC General Insurance (formerly L&T General Insurance) with the larger entity HDFC Ergo, the promoters have gone the reverse way.
As the first merger of insurance companies in the non-life space in India, the transaction was bound to create interest, which it did. The ‘reverse merger’ has not been noticed, though.
There is no doubt the deal is value positive for the existing shareholders. And, as and when the new entity is listed on the stock markets, it would hope that potential investors would believe the same.
The Insurance Regulatory and Development Authority of India (Irdai) confirmed
