Edelweiss Financial Services Ltd updates on Edelweiss Tokio Life Insurance Company

Edelweiss Tokio Life Insurance Company (ETLI), a subsidiary of Edelweiss Financial Services Limited, was launched as a partnership between Edelweiss Financial Services and Tokio Marine. The agreement that was entered into between the two shareholders in 2009 was valid until November 2021. Both shareholders are engaged in discussions on a new arrangement that works in the best interest of the business and the stakeholders.

ETLI, which completed a decade in business this year, is well-capitalized with a healthy solvency ratio of 200% and on a high growth trajectory. It has a strong portfolio of insurance products and a well-diversified distribution platform. The shareholders have infused approximately INR 2200 crore into ETLI till date and EFSL continues to hold a majority stake. The performance of this business even in the face of crisis like the pandemic has been promising and strengthens our belief and commitment to its long-term growth.

Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 76.45 as compared to the previous close of Rs. 71.05. The total number of shares traded during the day was 310514 in over 3596 trades.

The stock hit an intraday high of Rs. 77.10 and intraday low of 71.00. The net turnover during the day was Rs. 23228757.00.

Source : Equity Bulls

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EdelweissFinancialServices INE532F01054 EdelweissTokioLifeInsuranceCompany Update