Bharti-Axa is being merged with ICICI Lombard making it a third largest non-life insurer in India. Bharti and AXA hold 51 percent and 49 percent stake respectively in Bharti AXA General. Bharti-AXA was valued for about 2700 Cr. for the deal. It has about 1,77 percent solvency ratio & 115% combine ratio. ICICI also has quite good solvency ratio of 250% % combined ratio of 100%.
As of July 31, Bharti AXA General had a market share of 1.44 percent & gross direct premium of Rs 810.85 crore whereas ICICI Lombard had a market share of 7.79 with gross direct premium of Rs 4,391.29 crore.
ICICI Lombard already number one in motor insurance vertical will get further boost with addition of 300 cr. Motor business of Bharti.
|Insurers||Fire||Marine Total||Marine Cargo||Marine Hull||Engineering||Motor Total||Motor OD||Motor TP|
|Insurers||Health||Aviation||Liability||P.A.||All Other||Grand Total||Market %|