Germany's Ergo International AG is a new joint venture partner of HDFC for its non-life business.

HDFC had previously short-listed three foreign companies for the selection of non-life partner. Ergo is a group company of reinsurance major Munich Reinsurance holding 26 per cent of stakes in HDFC General Insurance Ltd. This new joint venture will be called HDFC ERGO General Insurance Ltd and its headquarter will be in Mumbai.

Ask an Expert

Ask your personal finance query here and get personalized replies that meet your specific needs.