Deepak Parekh resigns as non-executive chairman of HDFC ERGO

HDFC ERGO General Insurance Company on Wednesday said HDFC chairman Deepak Parekh has resigned as non-executive chairman of the company.

Also, HDFC has nominated Keki Mistry as non-executive chairman.

HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG. HDFC owns a 50.58 percent stake in the company, with ERGO Group owning 48.46 percent.

The venture provides general insurance products such as motor insurance, travel insurance, health insurance and personal accident insurance in the retail space. Other than that, they provide property, marine and liability insurance in the corporate space.

Parekh also serves on the boards of several leading corporations like Siemens and BAE Systems India. He is also involved in an advisory capacity for international bodies including Indo-US CEO Forum, City of London's finance committee, Indo-German Chamber, and India-British Financial Partnership.

According to the ministry of corporate affairs data, he is a part of the board of HT Parekh Foundation, Breach Candy Trust, and the Indian Institute for Human Settlements.

Other directorships among the group companies include - HDFC Standard Life Insurance Company, HDFC Asset Management Company, and HDFC Ergo General Insurance Company.