August 28, 2016 2:10 PM ET

Insurance

Company Overview of L&T General Insurance Company Limited

Company Overview

L&T General Insurance Company Limited provides general insurance products and services for individuals, small and medium enterprises, and corporate customers in India. The company focuses on rural and micro insurance, as well as offers property and casualty, automobile, and health insurance products. It also provides risk engineering services in the areas of loss prevention and control comprising property, machinery, business interruption, transportation, and motor fleet loss control. The company was incorporated in 2007 and is based in Mumbai, India. L&T General Insurance Company Limited operates as a subsidiary of Larsen & Toubro Ltd.

601-602, Trade Centre

Bandra Kurla Complex

Bandra (East)

Mumbai,  400051

India

Founded in 2007

Phone:

91 22 6123 0000

Key Executives for L&T General Insurance Company Limited

L&T General Insurance Company Limited does not have any Key Executives recorded.

L&T General Insurance Company Limited Key Developments

L&T Insurance And HDFC Ergo Reportedly In Merger Talks

The Times of India reported that promoters of L&T General Insurance Company Limited and HDFC Ergo General Insurance Company Limited are in merger talks, citing unknown sources.

HDFC Looks To Buy L&T General Insurance

HDFC Bank Limited (NSEI:HDFCBANK) began talks to purchase L&T General Insurance Company Limited, reports The Economic Times. According to the report, HDFC Vice Chairman Keki Mistry and L&T Chairman A.M. Naik have held discussions on the matter.

L&T Reportedly Sells 49% Stake In Insurance Arm

According to an unnamed source, coined by the Business Standard, Larsen & Toubro Limited (BSE:500510) is planning to sell 49 stake in its general insurance company, L&T General Insurance Company Limited to a foreign entity. The deal is expected to be finalized in the next three to six months. "The stake sale is primarily targeted at monetization. The firm has been going it alone so far and the aim is to bring in a foreign partner, which can bring in the requisite underwriting expertise and technological advancements," said a person said. Another person stated that L&T had been engaging with prospective entities regarding a possible stake sale. Sources stated that L&T would raise about INR 6 billion if it sells its stake at 5% to 6% of its assets under management. Apart from monetization, L&T MF is looking at improving its distribution reach and is likely to sell stake to a domestic bank.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 3, 2016
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