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ING Vysya N.V. has exited the Insurance business from Asia Pacific due to their Global Restructuring activity and hence has sold off their stake in ING Vysya Life Insurance to Exide Industries Limited in March 2013. The entire takeover has been recently effective and now ING Vysya Life Insurance Company Limited will be referred to as Exide Life Insurance Company Limited.
Exide Industries had 50% of the stake from 2005 and now in March 2013 Exide bags 100% stake in that organization. Hence the name change followed suit.
Exide Industries have been a pioneer in electric storage batteries with a very strong market capitalization of INR 10,000 crores and a strong market share in its space. It is more than a 100 years old organization which built its repute and brand equity based on customer trust and is a pure network driven robust organization.
Exide Life Insurance is a fast growing profitable organization, headquartered at Bangalore and is a prominent player in South India.
Kshitij Jain is the Managing Director & Chief Executive Officer of Exide Life Insurance Company.
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Claims ratio | 88.82 | 83.94 | 83.16 | 86.10 | 89.36 | 96.40 | 96.81 | 97.03% | Yet to be published |
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Market share | 0.6 | 0.6 | 0.5 | 0.6 | 0.5 | 0.5 | 0.4 | 0.37 | Yet to be published |
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