ICICI Lombard
#1567
Rank
$11.3B
Marketcap
India
Country
Mr. Bhargav Dasgupta B.E. (Mech), IIM Bangalore, PGDM (MD, CEO & Exec. Director)
Mr. Alok Kumar Agarwal (Exec. Director of Wholesale & Exec. Director)
Mr. Sanjeev Radheyshyam Mantri B.Com, CA (Exec. Director of Retail & Exec. Director)
Summary
History
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 ?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. On 16th October 2019, FAL Corporation, part of Fairfax Financial Holdings, on Wednesday exited ICICI Lombard General Insurance Company Ltd. by selling shares worth nearly Rs 2,627 crore.ICICI Lombard tied up with Karur Vysa Bank in 2019 for selling bancassurance products in 2019.In August 2020, ICICI Lombard acquired Bharti Axa General Insurance through a share swap deal. The deal will enable Bharti AXA's current shareholders receive 2 shares of ICICI Lombard for every 115 shares of Bharti AXA held. The merger will result in a combined annual premiums worth ?16,447 crore .
Mission
Vision
Key Team
Mr. Girish Nayak (Chief Customer Service, Operations & Technology)
Mr. Vinod Mahajan (Chief Investment Officer)
Mr. Gopal Balachandran (CFO & Chief Risk Officer)
Mr. Jerry Jose (Chief of HR)
Mr. Amit Kushwaha (Chief Compliance Officer)
Ms. Sheena Kapoor (Head of Marketing, Corp. Communications & CSR)
Mr. Palepu Jagannadha Venkateswara Sarma (Head of Gov. Department)
Recognition and Awards
References
https://en.wikipedia.org/wiki/ICICI_Lombard
https://in.investing.com/equities/icici-lombard
https://finance.yahoo.com/quote/ICICIGI.NS/profile?p=ICICIGI.NS
https://www.comparably.com/companies/icici-lombard-general-insurance-company
https://www.crunchbase.com/organization/icici-lombard-general-insurance
Mr. Bhargav Dasgupta B.E. (Mech), IIM Bangalore, PGDM (MD, CEO & Exec. Director)
Mr. Alok Kumar Agarwal (Exec. Director of Wholesale & Exec. Director)
Mr. Sanjeev Radheyshyam Mantri B.Com, CA (Exec. Director of Retail & Exec. Director)