hdfc ergo general insurance company limited type private limited industry insurancewebsite headquarters mumbai india products private car health travel two wheeler personal accident home commercial rural website http www.hdfcergo.com footnotes references 1 headquartered in mumbai india hdfc ergo general insurance company limited is a joint venture between hdfc ltd. and ergo international ag a germany based company . ergo is a part of the munich re group that stands among the largest insurance companies of the world with an asset share of over rs . 9 00 000 crores . hdfc ltd. holds 51 per cent stake in the insurance venture while the balance 49 per cent lies in the hands of ergo . founded in the year 2002 hdfc ergo general insurance company operates in 89 indian cities with over 109 branches and 1 900 staff members across the country . 2 contents 1 history 2 key persons 3 expansion since incorporation 4 holdings 5 current financial status 6 products and services 7 major achievements 8 general insurance 9 references 10 external links history edit hdfc ltd. and ergo international ag joined their forces to form a general insurance joint venture company in india under the presence of german chancellor dr. angela merkel and former indian prime minister dr. manmohan singh mr. deepak parekh chairman of the board of hdfc ltd. and dr. nikolaus von bomhard ceo of ergo s parent company the munich re group . the new joint venture company was named hdfc ergo general insurance company limited with its headquarter in mumbai . under the agreement signed by the two companies the international business entity ergo international ag acquired 26 per cent share in hdfc general insurance ltd. the rest being held by hdfc ltd. the new formed partnership enabled hdfc ltd to successfully grow its existing general insurance operations and further leveraged their outstanding brand image and distribution strength . over the years the company has expanded its reach to approximately all the major cities of india with millions of customers already on board . hdfc ergo general insurance company limited is a public company and is categorized as indian non government company . the company s authorized share capital is rs . 6 000 000 000 and its paid up capital is rs . 5 386 202 600 . 3 key persons edit key persons of hdfc ergo general insurance company limited as per irda guidelines are as follows name of key person designation mr. ritesh kumar managing director and ceo mr. member of executive management & cfo mr. anuj tyagi member of executive management head corporate rural and agri business mr. karan chopra member of executive management and head retail business mr. abhiranjan gupta chief investment officer mr. anurag rastogi appointed actuary 4 expansion since incorporation edit during its initial years the company saw a slump and recorded an underwritten gross premium of rs . 196.78 crores fy 2006 07 as against rs . 206.89 crore in the previous year fy 2005 06 . the company made a strong come back and escalated it gwp to rs .239.69 crores fy 2006 07 . ever since hdfc ergo has shown an outstanding performance in the indian general insurance industry and made many amendments to its product offerings and services . the company now marks a gwp of rs .3 257 crores at the end of fy 2014 15 registering a growth rate of 9.5 per cent . the overall market share of hdfc ergo general insurance company limited has also gone up from 1.1 % in fy 2008 09 to 4 % in fy 2014 15 . 5 holdings edit hdfc ergo general insurance company limited is one of the subsidiaries of hdfc ltd. after joining with ergo international ag the company has expanded its services into an array of insurance segments and accounts for 47 per cent of the total business revenue earned by hdfc ltd. over the years the company s overall market share has grown from 1.1 per cent in fy 2008 09 to 4 per cent in fy 2013 14 . 6 current financial status edit the fourth largest general insurance company in the private sector hdfc ergo general insurance company limited has attained a gross written premium gwp of 3 257 crores net written premium nwp of rs . 1 778.4 and has maintained its market share of 4 per cent at the end of the financial year of 2014 15 registering a growth rate of 9.5 per cent . 7 the company sold over 4.2 million policies through its 108 branches and various channel partners . the regulatory solvency ratio for hdfc ergo general insurance company limited remains comfortable at 1.67 times as on september 30 2011 . products and services edit hdfc ergo general insurance company limited is engaged in general insurance reinsurance claims management and investment management services . the firm offers insurance policies and policy renewals through its website offices and intermediaries . its market insurance products include health insurance motor insurance travel insurance personal accident insurance home insurance commercial insurance and rural insurance . major achievements edit since its inception hdfc ergo general insurance company limited has won several awards 8 for its services . the company has been rated iaaa by icra 9 which indicates the firm s highest paying ability . the rating underlines the company s fundamentally strong position and prospect of meeting the obligations of the policyholders in an efficient way . hdfc ergo has been awarded iso 9001 2008 certification 10 for its processes relating to operations & services customer experience management and claims management . hdfc ergo general insurance was awarded best insurance company 11 in private sector general by the world hrd congress at abp news banking financial services & insurance awards 2014 . awarded as the best general insurance company in india by international alternative investment review iair in 2013 and 2014 . 12 gold shield 13 at icai awards for excellence in financial reporting for the year 2012 13 general insurance edit hdfc ergo sells health motor car home accident travel two wheeler commercial and rural . it provided 15 million worth of cover in collaboration with ace insurance brokers for the first formula one race held in new delhi india . this included assurance against adverse weather non appearance of teams riots strikes and civil commotion leading to cancellation of the event its postponement or relocation . 14 15 references edit irda scraps motor pool as losses mount . the times of india . 24 december 2011 . retrieved 9 january 2012 . hdfc and ergo joint venture . joint press release issued by hdfc and ergo . hdfc ergo key persons . hdfc ergo general insurance company limited . india market general insurance update . 2014 15.pdf hdfc ergo annual report fy 2014 15 check url value help pdf . hdfc ergo awards and recognition . hdfc ergo iaaa rating pdf . iso certificate.pdf hdfc ergo iso certification check url value help pdf . abp news bfsi awards 2014 . iair awards 2014 . icai awards 2013 . f1 indian gp to be insured for rs67 .5 crore . dna daily news and analysis . 17 october 2011 . retrieved 17 october 2011 . hdfc ergo to provide 15m cover to formula 1 . the economic times . 17 october 2011 . retrieved 17 october 2011 . external links edit official website retrieved from https en.wikipedia.org w index.php title hdfc ergo general insurance company & oldid 739711803 categories general insurance companies of indiamultinational joint venture companieshidden categories pages with url errorsuse indian english from june 2013all wikipedia articles written in indian englishpages using infobox company with unsupported parametersofficial website different in wikidata and wikipedia navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links 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