Bharti AXA’s non-life insurance business is set to merge with ICICI Lombard General Insurance, in what will end up creating the country’s third largest non-life insurance company. “The board of directors of ICICI Lombard General Insurance Company and Bharti AXA General Insurance Company at their respective meetings held today, approved entering into definitive agreements for demerger of Bharti AXA’s non-life insurance business into ICICI Lombard through a Scheme of Arrangement,” the companies said in a statement on Saturday.
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