HDFC ERGO to acquire L&T General Insurance for Rs 551 crore
"Considering the importance of scale in the insurance business, consolidation within the industry is inevitable. This transaction marks the beginning of this consolidation phase," HDFC Chairman Deepak Parekh said in a statement.
HDFC Chairman Deepak Parekh during a reception hosted by the British Deputy High Commissioner Shekhar Iyer to celebrate the 90th birthday of Queen Elizabeth II in Mumbai on May 26, 2016. Image Source: IANS