Leading general private insurer, HDFC ERGO, has been rated iAAA by ICRA (an associate of Moody’s Investors Service) indicating highest claim-paying ability.
HDFC ERGO has become the third private general insurer to have acquired this rating and this rating denotes the company's fundamentally strong position and prospect of meeting policy-holder obligations, a press release issued here today stated.
Speaking on this occasion, the company's Managing Director and CEO, Ritesh Kumar, said, "the rating reaffirms HDFC ERGO's foundation, strong parentage and the robust security that it offers to its customers. An insurance company's core product is claims-servicing and this milestone is another step show-casing our unceasing commitment towards our customers."
HDFC ERGO has an experienced management team with focus on systems and processes in critical areas like underwriting, reinsurance and claims management.
This, coupled with Munich Re Group's global experience and technical expertise, helps the company offer better and customised solutions to its customers in a de-tariffed environment, the release said.
HDFC ERGO General Insurance Company is a 74:26 joint venture between HDFC Limited and ERGO International AG, the primary insurance entity of the Munich Re Group.
