ICICI Lombard General Insurance is one of the top private sector insurance companies. It deals in general insurance, investment management and other insurance solutions like home, two-wheeler, travel, health, home, business, NRI, car, and third party.
ICICI Lombard General Insurance is one of the top private sector insurance companies. It deals in general insurance, investment management, home insurance and more.
ICICI Lombard Market Capitalisation
The market capitalisation of the company, as of March 2018, is close to Rs.36,097.97 crore.
Q1 FY 2018-19
FY 2017-18
Q3 FY 2017-18
ICICI Lombard General Insurance holds 18% share among private sector non-life insurers in the country, It debuted in the stock market in September 2017. The price of the share has been stable in the past 6 months. As the stock is new in the market, it will take some time to understand the behaviour of the share over the coming months. Investing in the stock from a long-term perspective could be a good option. However, it is advised to consult a financial expert and do thorough research about other companies stock before investing.
ICICI Lombard offers several insurance solutions such as two-wheeler, travel, health, home, business, NRI, car, third party, rural, and more. The company also deals in investment management services, reinsurance, and insurance claims management. ICICI Lombard's clientele includes government-owned enterprises, conglomerates, state and central governments or rural customers, small and medium enterprises, and individual customers. All the aforementioned clientele are approached via several channels like brokers, direct alliances, agents and online platforms.
Established in 2001, ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited- a financial services company based in Toronto. In 2006, the company crossed the receipt of Rs.10 billion of GDPI while it settled more than 5 million claims in 2010. The number of policies issued by the company crossed 10 million in 2014 while the profit after tax (PAT) crossed Rs.5 billion. In 2016, ICICI Lombard became the first general insurance company in India to issue subordinated debt. ICICI Bank sold a 9% stake in ICICI General Fairfax Financial Holdings, at a company valuation of Rs.172.25 billion in fiscal 2016. As a result of the transaction, ICICI Bank's ownership in ICICI Lombard General Insurance Company is approximately 64% while Fairfax Financial Holdings Limited's ownership is 35% respectively.
Mr. Bhargav Dasgupta - CEO and MD
Mr. Bhargav Dasgupta is serving as the Chief Executive Officer and Managing Director at ICICI Lombard General Insurance Company Limited since May 1, 2009. He joined ICICI in 1992 in the Project Finance Department. From 2003 to October 2006, he was working as a Senior General Manager at ICICI Bank Ltd. He was also in charge of International Banking Group. Since May 1, 2009, Mr. Bhargav has been a Director of ICICI Lombard General Insurance Company Limited and also served as Executive Director of ICICI Prudential Life Insurance Company Ltd. from October 24, 2006 to April 30, 2009. An alumnus of Indian Institute of Management, Bangalore, Mr. Dasgupta holds an engineering degree from Jadhavpur University.
The stocks of ICICI Lombard kcan be bought and sold on the two major stock exchanges in the country - National Stock Exchange and Bombay Stock Exchange. The codes for the same are mentioned below.
BSE - 540716
NSE - ICICIGI
ISIN - INE765G01017
Sector - Diversified
Registered Address
ICICI Lombard House
414, P.Balu Marg,
Off Veer Sawarkar Marg,
near Siddhivinayak Temple, Prabhadevi
Mumbai-400025.
Stock market investments require a lot of research and knowledge. They do not generally offer any tax benefits and are regarded as high-risk investments. Hence,it is crucial to have a diversified portfolio. At Bankbazaar, we encourage our readers to invest on mutual funds . It doesn't require a lot of knowledge and equity linked mutual fund schemes offer tax benefits. Additionally, since mutual funds comprise stocks from multiple companies, they help in building a diversified portfolio.
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