Housing Development Finance Corporation’s (HDFC) a non listed subsidiary -- HDFC ERGO General Insurance Company has received its board approval for acquisition of a 100% stake in L&T General Insurance Company for an aggregate consideration of Rs 551 crore. The board of directors of the company at its meeting held on June 03, 2016 has approved for the same.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
