Exide Life appoints Sanjay Vij as Executive Director and Principal Officer
Exide Life has announced the appointment of Sanjay Vij as the Executive Director and Principal Officer with effect from January 10.
On January one, 2022, HDFC Life Insurance Company Limited announced the completion of the acquisition of Exide Life Insurance Company Limited, subsequent to receiving all relevant regulatory approvals, an Exide Life statement noted on Monday.
Pursuant to the agreement, there was a cash pay-out of Rs. 726 crore and 8,70,22,222 equity shares at an issue price of Rs 685 per share were allotted to Exide Industries Limited.
Exide Industries now holds 4.1 per cent stake in HDFC Life. The process for merger of Exide Life into HDFC Life will be initiated shortly, the statement said.
Vij joined HDFC Life in July 2001.
As the Group Head – Bancassurance and Chief Values Officer (CVO) in HDFC Life, he was responsible for managing the P&L, market growth, and business of crucial bancassurance channels, it was stated.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
