HDFC Corporate Update
Associates and Subsidiaries
GHDFC
HDFC ERGO GENERAL INSURANCE COMPANY LTD.
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HDFC holds 49.98% and ERGO International AG holds 41.79% and Munich Health Holding
AG holds 7.20% of the equity of HDFC ERGO General Insurance Company Limited (HDFC
ERGO)
In the quarter ended June 21, the Corporation's board approved the sale of 4.99% stake in
HDFC ERGO to HDFC Bank, subject to the receipt of requisite regulatory approvals
Gross direct premium for the half year ended September 30, 2021 stood at Rs. 65.3 bn
(PY: Rs 59.2 bn)
Products: Motor, health, travel, home and personal accident in the retail segment;
property, marine, aviation and liability insurance in the corporate segment; and crop
insurance in rural segment
Retail accounts for 55% of the total business
Market share of 10.6% (private sector) and 6.0% (overall) in terms of gross direct premium
for the half year ended September 30, 2021 (Source: GI Council)
As at September 30, 2021: Solvency Ratio - 171% (as against regulatory requirement of
150%)
Profit after tax in H1FY22: Rs 1.53 bn (impacted due to higher COVID-19 losses)
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