HDFC Ergo General Insurance Limited Unlisted Shares

(i) HDFC ERGO General Insurance Company Limited is a joint venture between HDFC Ltd. and ERGO International AG, a Germany-based company that is part of the Munich R Group. HDFC holds 51 percent, and ERGO the other 49 percent. The firm operates in 101 Indian cities with over 127 branches and 2,000 plus staff members.

It is a subsidiary of HDFC limited.

(ii) The company offers all lines of general insurance products including motor, health, personal accident, home, fire, marine, aviation, liability, crop insurance, etc.

Highlights of the FY2018-19

a) It is the 3rd largest General Insurance company in the private sector with Gross Written Premium 8722 Cr for FY19 and 5.1% shares as on March 2019.
b) Issued more than 8.5 Million Policy during the FY19.
c) Credit Rating of AAA from ICRA and CRISIL for the NCD issued in the market.
d) The solvency ratio of 1.75x as which is well above the 1.5x requirement of IRDA. An insurance company is considered to be solvent if its assets are adequate enough and liquid to pay off claims or liabilities as and when they arise. Thus insurance company solvency ratio indicates its paying claim ability. Higher the solvency ratio better the claim paying ability.

Highlights of the FY2019-20

a) 3rd largest General Insurance Company in private sector. The total GWP stands at ~9400 Crores.
b) Overall market share of 6.2% for Fiscal Year 2019-20 considering full year business of HDFC ERGO Health Insurance and HDFC ERGO.
c) Credit rating of ICRA/AAA & CRISIL/AAA with a stable outlook for the Non-Convertible Debentures (Subordinated Debt) programme.
d) Solvency ratio of 1.78x vis-a-vis IRDAI required solvency ratio of 1.50x.
e) PAN-India presence across 203 branches and a close knit family of 7,800 professionals.
f) Issued more than 1 Crores policies and serviced more than 1.5 million claims in FY20.