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TMI BlogCCI approves acquisition of General Insurance Business of Bharti AXA by ICICI LombardX X X X Extracts X X X X X X X X Extracts X X X X ..... CCI approves acquisition of General Insurance Business of Bharti AXA by ICICI Lombard X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited (ICICI Lombard) under Section 31(1) of the Competition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 2002. ICICI Lombard is a general insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI) and is engaged in providing a comprehensive and well-diver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sified range of general insurance products, including motor, health, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. Bharti AXA is a gene ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral insurance company registered with the IRDAI and is a joint venture held by Bharti General Ventures Private Limited (51%) and Societe Beaujon (49%). It is engaged in providing general insurance pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ducts, including motor, health, travel, crop and home insurance to its customers. Pursuant to the proposed combination, the entire general insurance business of Bharti AXA would be transferred by way ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of a demerger to ICICI Lombard in consideration of issuance of shares by ICICI Lombard to Bharti AXA.
Detailed order of the Commission will follow. X X X X Extracts X X X X X X X X Extracts X X X X
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