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ICICI Lombard General Insurance

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ICICI Lombard General Insurance

  • Fourth largest non-life insurance company in India as in FY19
  • Provides motor, health, travel, home, property, marine, liability, crop and other specialty insurances products
  • 253 branches as of March 2018
  • 26.5 million policies issued 1.6 million claims settled in 2019
  • Gross Written Premium of Rs 147.89 billion (US$ 2.12 billion) in FY19 and Rs 10,360.79 crore (US$ 1.48 billion) in 9MFY20

Currently a leading private general insurer in India, ICICI Lombard was started in 2001 as a joint venture between ICICI Bank and Fairfax Financial Holdings. Over the years, it has grown rapidly along with India’s insurance industry. In FY19, it became the fourth largest non-life insurance company in the country and issued 26.5 million new policies.

Gross Direct Premium Income (GDPI) of the Company stood at Rs 64.40 billion (US$ 921.45 million) in H1 FY2020

Company Website: www.icicilombard.com

ICICI Lombard – Nibhaye Vaade

2019 Announced tie-up with Standard Chartered Bank
2017 Became a listed company, GDPI crossed Rs 100 billion (US$ 1.54 billion)
2016 First general insurance company in India to issue subordinated debt
2015 Investment book size crossed Rs 100 billion (US$ 1.56 billion)
2014 Number of policies issued surpassed 10 million
2010 Settled over 5 million claims
2006 Crossed Gross Direct Premium Income (GDPI) of Rs 10 billion (US$ 220.61 million)
2004 Became India’s largest private sector general insurer
2001 Commenced non-life insurance operations

 

Updated: May, 2019

Insurance
India's life insurance companies witnessed 11.36 per cent growth in their collective premium income at Rs 48.26 lakh crore (US$ 684.64 billion) during the fiscal ended March 2020.