January 24, 2017 3:01 AM ET

Insurance

Company Overview of ICICI Lombard General Insurance Company Limited

Company Overview

ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The company’s products include business solutions, such as burglary, industrial all risk, all risk, consequential loss, electronic equipment, fidelity, fire and special perils, tea crop, marine export import, machinery, boiler, and inland transit insurance; and project solutions, including contractors’ all risk, contractors’ plant and machinery, erection all risk, and performance guarantee insurance solutions. Its products also comprise liability solutions comprising director’s and officers liability, event insurance, product liability, public liability, workmen’s compensation, ...

ICICI Lombard House

414, Veer Savarkar Marg

Near Siddhi Vinayak Temple

Prabhadevi

Mumbai,  400025

India

Founded in 2000

7,954 Employees

Phone:

91 22 6196 1100

Fax:

91 22 6196 1323

Key Executives for ICICI Lombard General Insurance Company Limited

Chief Executive Officer, Managing Director, Director, Member of Policyholder Protection Committee, Member of Investment Committee, Member of Risk Management Committee and Member of Corporate Social Responsibility Committee
Age: 50
Chief Financial Officer, Chief Risk Officer and Member of Investment Committee
Head of Operations, Technology and Telesales
Chief Marketing Officer of Wholesale and Executive Director
Chief Marketing Officer of Retail and Executive Director
Age: 45
Compensation as of Fiscal Year 2016.

ICICI Lombard General Insurance Company Limited Key Developments

Fairfax Reportedly In Talks To Sell Stake In ICICI Lombard

Fairfax Financial Holdings Limited (TSX:FFH) is in early talks to sell 25% of ICICI Lombard General Insurance Company Limited in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources familiar with the matter said. Private equity firms, including The Blackstone Group L.P. (NYSE:BX) and KKR & Co. L.P. (NYSE:KKR), as well as some Canadian pension funds have expressed interest in Fairfax's stake, the sources said. ICICI Bank Limited (NSEI:ICICIBANK) may also look to sell 10% stake in the unit at the same time, one source said. Buyers are likely to pay a larger premium for a stake in ICICI Lombard if they are able to get as much as a third of the company, the sources said. Two sources said a deal is likely to be finalized in the next two months. ICICI, Fairfax, Blackstone and KKR did not respond to requests for comment. The sources, who declined to be named as they are not authorized to publicly discuss the matter, said discussions are in the early stages and it was not yet clear what any final deal would look like. Fairfax has not yet chosen a bank to run a sale process, they said.

ICICI Lombard General Insurance Company Limited Reports Audited Earnings Results for the Second Quarter Ended September 30, 2016

ICICI Lombard General Insurance Company Limited reported audited earnings results for the second quarter ended September 30, 2016. For the period, the gross written premium of the company increased by 38% from INR 19,920 million to INR 27,520 million. Profit after tax was INR 1,710 million compared to INR 1,430 million a year ago.

ICICI Lombard General Insurance Company Limited Raises $72.57 Million in Private Placement

ICICI Lombard General Insurance Company Limited raised INR 4,850 million ($72.57 million) in a private placement of redeemable non-convertible debentures.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 11, 2017
FINO PayTech Ltd.
 

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