(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.
(iii) 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.
|Total Available Shares:||NA|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||NA Shares|
|Current Unlisted Share Price:||₹ NA Per Equity Share|
|Shareholder's name||No. of Shares (FY19)||% of total shares (FY19)|
|Gross Written Premium||8721||7401||2252||482|
|Net Written Premium||4372||3455||999||364|
|Net Earned Premium||3810||2994||989||297|
|ESOP Exercised Price||91||151||257|