CCI Approves HDFC Life Insurance Company’s Acquisition of 100% Interest in Exide Life Insurance Company Limited | Odisha News | Latest Odisha News

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New Delhi: The Competition Commission of India (ICC) approves the acquisition by HDFC Life Insurance Company (Acquirer) of the 100% interest in Exide Life Insurance Company Limited (Target) under Article 31 (1) of the Competition Act, 2002.

The proposed merger involves the acquisition of fully paid equity shares, representing 100% of Target by the purchaser from Exide Industries Limited. Following the completion of the share acquisition, it is proposed to merge Exide Life (which will be a wholly owned subsidiary of HDFC Life) with HDFC Life.

The acquirer is a life insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI). It offers a range of individual and group life insurance solutions, including participating, non-participating and unit-linked insurance products. Its product portfolio includes various life insurance and investment products such as protection, retirement, savings, investment and annuities. HDFC Life has two wholly owned subsidiaries, namely HDFC Pension Management Company Limited and HDFC International Life and Re Company Limited.

La Cible is a life insurance company registered with IRDAI. It offers various individual and group life insurance products, including protection plans (term insurance, children’s insurance plans), savings and investment plans (including ULIPs), retirement plans and retirement. It has no subsidiaries.


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