Competition Commission of India (CCI) approved the merger of Shriram GI Holdings with Shriram General Insurance. Simultaneously, the competition watchdog has also approved the merger of Shriram LI Holdings with Shriram Life Insurance Company Ltd.
“CCI approves the proposed amalgamation of Shriram GI Holdings Private Limited with Shriram General Insurance Company Ltd”, said a CCI post in platform ‘X’, formerly Twitter, on Tuesday.
In another post, the competition watchdog said “The commission approves the proposed amalgamation of Shriram LI Holdings Private Limited with Shriram Life Insurance Company Limited”.
The main objective of Shriram LI Holdings is to undertake investment business.
Shriram GI Holdings Private Limited (SGIH) undertakes the business of investments, facilitate strategic, private equity and third-party investors, and to carry on consultancy business, including in particular in relation to the general insurance products sector.
Shriram General Insurance Company is engaged in the business of providing general insurance, undertake re-insurance, counter insurance of insurances and to carry on generally every kind of non-life insurance and re-insurance business relating to general insurance.