Photo: The Statesman
Audi-Owner Wins Seven-Yr-Long Insurance Battle Against Bharti Axa
Telangana's state consumer court has ordered Bharti Axa General Insurance to pay Sudhakar Raju, a Hyderabad-based Audi owner, Rs 17.54 lakhs on 7% interest. Raju fought a seven-year-long legal battle after Bharti Axa's surveyor wrongfully assessed the damages caused to the car during the 2013 floods. Accusing the owner of causing hydrostatic loss, the insurer had withheld compensation. Reportedly, Raju had to spent Rs 20 lakhs on repairs,… read-more
Tags: Audi, Hyderabad, TSCDRC, BHARTI AXA GENERAL INSURANCE, BHARTI AXA
Courtesy: Cartoq
Photo: Twitter / ICICILombard
Bharti AXA General Insurance to be Acquired by ICICI Lombard
ICICI Lombard General Insurance announced that it will be acquiring Bharti AXA General Insurance in all the stock transactions. Bharti AXA General Insurance's 51% stake is owned by Bharti Enterprises and 49% by French insurer AXA. After the acquisition, the shareholders of Bharti AXA General Insurance will get two shares of ICICI Lombard General Insurance for every 115 shares owned. The deal amount for the acquisition is not disclosed.
Tags: ICICI LOMBARD, BHARTI AXA, GENERAL INSURANCE, SCHEME OF ARRANGEMENT
Courtesy: The Times Of India
