2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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HDFC Life Insurance
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SBI Life Insurance
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Max Life Insurance
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ICICI Prudential Life Insurance
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Detailed explanation-1: -HDFC Life had acquired 100% stake in Exide Life Insurance Company from its parent Exide Industries for ₹6, 687 crore.
Detailed explanation-2: -This marks the completion of the first-ever merger and acquisition (M&A) transaction in the Indian life insurance sector, HDFC Life said in a statement. HDFC Life had completed the acquisition of Exide Life in January 2022.
Detailed explanation-3: -The acquisition will augment the embedded value of HDFC Life by approximately 10 per cent and take its assets under management to over Rs 2 trillion.
Detailed explanation-4: -Exide Industries now holds a 4.1 percent stake in HDFC Life. Following this, the merger got the approval of the National Company Law Tribunal (NCLT) last month. The Scheme of Amalgamation was approved by the Mumbai bench of NCLT, HDFC Life Insurance had said in a regulatory filing.