HDFC ERGO acquires L&T General Insurance
Mumbai-based HDFC ERGO General Insurance on Friday announced it has acquired L&T General Insurance for ₹551 crore in an all-cash deal. The deal will see the exit of infrastructure firm L&T from the insurance business. HDFC ERGO is a joint venture between HDFC and Germany-based ERGO International. Notably, this is the first-ever merger in the general insurance sector in India.