DHFL General Insurance has announced that it has received its certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI), allowing it to begin business operations soon.
Dewan Housing Finance Ltd (DHFL), a private sector home financing firm, is the main entity behind the insurer.
“Our general insurance venture would help us in our commitment to offer protection and mitigate the economic effects of illness, accidents, death, disability and disasters,” Kapil Wadhawan, chairman of parent firm Wadhawan Global Capital, said in a statement. “It also helps us provide the protection for assets as a safety net to cope with economic consequences of unexpected events.”
Wadhawan will also serve as chairman of DHFL General Insurance.
Alongside traditional channels, DHFL General Insurance will also focus on digital distribution, which, according to Wadhawan, will empower consumers in making insurance decisions.
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