Insurance IRDAI approves ICICI Lombard and Bharti AXA deal

IRDAI approves ICICI Lombard and Bharti AXA deal

ICICI Lombard proposed to buy Bharti Axa last year in an all-stock deal

Team Cafemutual Sep 7, 2021

IRDAI has given its go ahead to ICICI Lombard General Insurance to acquire Bharti AXA's general insurance business.

In a regulatory filing, ICICI Lombard said, “The company got a letter from IRDAI on September 3, 2021, granting final approval to the proposed scheme.”

The company said that it would complete the merger within three days.

Last year, ICICI Lombard proposed to buy Bharti AXA General Insurance in an all-stock deal.

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