HDFC Ergo General Insurance
1st Floor, HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai, Maharashtra, 400020, India
Overview
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between HDFC Limited, India's premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. HDFC ERGO offers complete range of general insurance products ranging from Personal Accident ,Travel, Home and Motor, Health Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space. HDFC ERGO is the 4th largest private sector general insurance company in India as rated by IRDA. HDFC ERGO has been expanding its presence across the country and is today present across 71 cities with 80 branch offices with an employee base more than 1100 professionals. The company has a wide distribution network comprising of brokers, retail and corporate agents, bancassurance besides its own direct sales force. HDFC ERGO has been assigned the rating of 'iAAA' by ICRA indicating its highest claim paying ability. The company also has ISO certification for its claim services. The company has been awarded with ICAI Awards for Excellence in Financial Reporting by Institute of Chartered Accountants of India (ICAI) under the Category IV - Insurance Sector. It is declared as a winner under "Best Investor Education & Category Enhancement - Insurance" category by UTV Bloomberg - Financial Leadership Awards 2012. It has also won "Personal Lines Growth Leadership Award 2012" at The Indian Insurance Awards 2012. Official website: http://www.hdfcergo.com/.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Financial Services
- Insurance
Investment portfolio
- Utkarsh Micro Finance
Participated · Equity · Sep 2016
Utkarsh Micro Finance is a Varanasi-based microlender offering microfinance products to low-income customers. The company is pursuing a transition to a small finance bank and plans to convert its operating company into a holding company that will house Utkarsh Small Finance Bank. Management has said the holding company structure will run the banking operation and the firm is awaiting Reserve Bank of India approval for the change. The recent capital raise is intended to reduce foreign shareholding to meet RBI norms for small finance banks. Earlier investors include International Finance Corporation and Aavishkaar Goodwell India Microfinance Development Co. Ltd., which backed the microlender in 2009. The company has also been reported to seek domestic investment at a valuation of around Rs 1,000 crore in prior coverage. Utkarsh Micro Finance provides microfinance products to underserved populations in northern and central India, focusing on credit, microenterprise loans and micro pension products. Its customer base is predominantly women and it offers joint liability group loans designed for lower-income women. The company has expanded product offerings to include pension and micro-enterprise lending and operates alongside a non-profit arm, Samutkarsh Welfare Society, which provides vocational and financial awareness training, market linkages, and health and green energy initiatives. Utkarsh aims to diversify its portfolio of services and products and to grow in existing geographies while expanding into others. As of November 2014 the company operated 213 branches, had an active customer base of over 4.8 lakh and a loan portfolio of Rs 552 crore. Prior funding supported product diversification and strengthened presence in Uttar Pradesh, Bihar, Uttarakhand and Madhya Pradesh. Utkarsh Micro Finance Pvt Ltd is a Varanasi-based microfinance institution. The company secured an equity infusion to support geographic expansion. It raised Rs 20 crore ($3.64 million) from existing investors Aavishkaar Goodwell, International Finance Corporation (IFC) and Norwegian Microfinance Initiative (NMI) in its third round of equity infusion. The MFI said it will use the funding to strengthen its presence in Uttar Pradesh, Bihar, Uttarakhand and Madhya ...... The article also reports that the company's promoters will put in additional capital.
Team
No current team members are available.