ICICI Lombard General Insurance Company Ltd
Introduction
ICICI Lombard General Insurance Company Limited is one of the leading
private sector general insurance companies in India. It is engaged in general
insurance, reinsurance, insurance claims management and investment
management. The company has a Gross Written Premium (GWP) of Rs 147.89
billion (FY 2019). The firm offers policy insurance and renewal through its
intermediaries and website. It markets assurance products including Car
Insurance, Health Insurance, International Travel Insurance, Overseas
Student Travel Insurance, Two Wheeler Insurance, Home
Insurance and Weather insurance. ICICI Lombard has 265 branches and 910
virtual offices spread across the nation
Established in 2001, ICICI Lombard General Insurance Company is a joint
venture between ICICI Bank- India’s second largest bank and Fairfax
Financial Holdings Limited- a financial services company based
in Toronto. ICICI Bank had 64% stake in the venture while Fairfax had 36% in
the joint venture. ICICI Lombard General Insurance is the largest private sector
general insurance company in India. In fiscal 2016, ICICI Bank sold a 9.0%
stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at
a company valuation of Rs 172.25 billion. Following the transaction, the share
ownership in ICICI Lombard General Insurance Company of ICICI
Bank and Fairfax Financial Holdings Limited is approximately 64% and 35%,
respectively.
Vision
We will be the most value creating and admired risk solutions company in
India, with a global footprint.
Product and Services
ICICI Lombard Motor Insurance
ICICI Lombard Health Insurance
ICICI Lombard Travel insurance
ICICI Lombard Home Insurance
ICICI Lombard Specialty Lines Insurance
ICICI Lombard Property Insurance
ICICI Lombard Marine Insurance
ICICI Lombard Liability Insurance
ICICI Lombard Crop/Weather Insurance
Corporate Social Responsibility
It has taken multiple steps in this aspect through specific initiatives in the
areas of Preventive Healthcare, Road Safety and Disaster Support.
It has successfully implemented projects in coordination with ICICI
Foundation in the tribal districts of Nasik to reduce newborn and infant
deaths. At the same time, we have also organised programs that provided
medical treatment and road safety training facilities to over 20,000 truck
drivers.
Caring Hands CampaignRide to Safety
Financial highlights
ICICI General’s Gross Written Premium (GWP) was Rs 147.89 billion in
fiscal 2019.
ICICI Lombard led the private sector players in the general insurance
sector with a market share of 15.6% and had an overall industry market
share of 8.5%.
The company witnessed an increase in policy volumes by 12.77% from
23.5 million in fiscal 2018 to 26.5 million in fiscal 2019.
ICICI General’s profit before tax increased from Rs 11.96 billion in fiscal
2018 to Rs 15.98 billion in fiscal 2019.
ICICI General’s profit after tax increased from Rs 8.62 billion in fiscal
2018 to Rs 10.49 billion in fiscal 2019.
Shareholding pattern
New announcement- Accordingly, no request for transfer of securities
will be accepted by the Company and/or Karvy Fintech Private Limited for
transfer of securities held in physical form with effect from April 1, 2019.
Board of Directors
Chanda Kochhar -Chairperson
Lalita D. Gupte- Director
Uday Chitale- Director
Ved Prakash Chaturvedi- Director
Suresh Kumar- Director
N. S. Kannan- Director
B C Bhargav Dasgupta- Managing Director & CEO
Vishal Mahadevia- Director (w.e.f. April 25, 2018)
Ashvin Parekh- Director
Sanjeev Mantri- Executive Director (Retail)
Alok Kumar Agarwal -Executive Director (Wholesale)
