The ICICI Lombard General Insurance Company has announced its merger with which insurance company ?

• ICICI Lombard General Insurance has entered into a definitive agreement to acquire Bharti Enterprises-promoted Bharti AXA General Insurance in all stock transaction.
• Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent.
• ICICI Lombard general insurance company is going to merge with Bharti AXA’s non-life insurance business through a scheme of arrangement. According to ICICI Lombard, it will be the third-largest non-life insurer in India.

By: Rohit Middha