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ICICI Lombard

#1577

Rank

$10.81B

Marketcap

IN India

Country

ICICI Lombard
Leadership team

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)

Products/ Services
Health Insurance, Insurance, Life Insurance
Number of Employees
1,000 - 20,000
Headquarters
Mumbai, Maharashtra, India
Established
2001
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ICICIGI.NS
Social Media
Overview
Location
Summary
ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The company primarily offers motor, car, two wheeler, health, health booster, personal accident, travel, home, marine, NRI, business, third party, crop, rural, fire, engineering, liability, employee group, cattle, weather, and cyber insurance products; and reinsurance services. It serves customers through body corporates, as well as small, micro, and medium enterprises; state and central governments, government-owned enterprises, and rural customers; and agents, brokers, bancassurance, telesales, direct alliances, motor insurance service providers, and online platforms. The company was incorporated in 2000 and is based in Mumbai, India.
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
Our mission at ICICI Lombard is to provide complete solutions related to insurance needs of our customers in a customer-centric and cost-effective manner.
Vision
Our vision is to become the leading provider of innovative insurance solutions and services for our stakeholder partners and customers by leveraging customer insights to deliver customer delight.
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
ICICI Lombard has won several awards for quality service, innovation and performance such as, “Claims Team of the Year” at the Bancassurance Asia Awards, “Indian Insurance Company of the Year 2016” at the 13th Asia Insurance Industry Awards 2016, “Group Non-Life Insurance Company of the Year 2015” at the Global Banking & Finance Awards 2015.
References
ICICI Lombard
Leadership team

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)

Products/ Services
Health Insurance, Insurance, Life Insurance
Number of Employees
1,000 - 20,000
Headquarters
Mumbai, Maharashtra, India
Established
2001
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ICICIGI.NS
Social Media