Page 2 - Icici Lombard

ICICI Lombard focuses on product innovation to increase retail share

ICICI Lombard General Insurance on Thursday said it is focusing on product innovation to increase its retail share in the health insurance segment. The private insurer reported a retail health insurance market share of 2.9 per cent, while its group insurance share stood at 11.4 per cent. "We are working on increasing our retail share, and in this endeavour, we are constantly innovating our products. Our new offering, the Elevate Health policy, which includes several industry-first features and uses AI for product advice, is expected to drive our retail sales," ICICI Lombard VP (Health Agency) Amrish Sawe said. He also noted that the current retail share of the health insurance industry is 39 per cent, but by 2030-31, this mix is expected to rise to 46 per cent. However, Sawe did not disclose the retail share of premiums within the company's health portfolio. In FY'24, the gross written premium for the health industry was Rs 1,07,800 crore, and this is projected to nearly triple to

ICICI Lombard Q1 results: PAT up 49% to Rs 580 cr on motor insurance boost

Profit after tax rose to 5.80 billion rupees ($69.4 million) for the quarter ended June 30 from 3.90 billion rupees a year earlier, the company said in an exchange filing

Top-performing Lombard Fund doubles down on India's junk credit bonds

South Asian nation's star economy and improving business environment, at a time of slowing growth in China, has made Indian assets investor darling

Say no to medical bill shock! This health plan offers infinite claim amount

ICICI Lombard's Elevate health insurance revolutionizes coverage with the "Infinite Claim Amount" add-on. Eliminate worries about exceeding sum insured limits for a single major medical claim.

India's FMCG sector to have sustained growth rate of 7-9% in 2024: Report

The FMCG sector is expected to have a sustained growth rate of 7-9 per cent in 2024, supported by government initiatives to stimulate consumption and create job opportunities, a report said. The FMCG sector's resilience and adaptability, coupled with robust government support and digital transformation initiatives, position it favourably to navigate through uncertainties and emerge stronger. "Looking ahead, the FMCG sector in India is poised for sustained growth, with forecasts indicating a 7 to 9 per cent expansion in 2024," a report from ICICI Lombard General Insurance said. However, the sector faces challenges such as "inflationary pressures, subdued consumer confidence, and prevailing unemployment rates". Now, the FMCG industry has a "burgeoning economic footprint", which exceeds Rs 9.1 lakh crore and has a "pivotal role" in driving India's economic growth and employment generation, it added. Moreover, the online sales channel for FMCG is also increasing and has been valued at

Insurance helped 46,000 women avoid deadly work during heat waves in India

With climate change raising temperatures during heat waves, millions of Indians face a difficult choice: work in dangerous conditions or go hungry

Bharti Enterprises sells shares of ICICI Lombard for Rs 663 crore

Sunil Bharti Mittal-promoted Bharti Enterprises on Thursday offloaded shares of ICICI Lombard General Insurance Company for Rs 663 crore through open market transactions. Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Singapore and Blackstone Aqua Master Sub-Fund acquired shares of Mumbai-based general insurer. Bharti Enterprises Ltd sold 38.50 lakh shares, amounting to a 0.8 per cent stake in ICICI Lombard through nine separate block deals on the BSE. The shares were sold at an average price of Rs 1,722.5 apiece, taking the deal size to Rs 663.16 crore. After the stake sale, the shareholding of Bharti Enterprises declined to 1.63 per cent from 2.43 per cent. ICICI Bank purchased 21 lakh shares, representing a 0.4 per cent stake in its subsidiary ICICI Lombard, for 361.72 crore. After the stake purchase, ICICI Bank's stakeholding in the ICICI Lombard increased to 51.7 per cent from 51.27 per cent. Share

Stocks to Watch: Infy, Bajaj Auto, Voda Idea, ICICI Lombard, Tata Comm, Zee

Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.

ICICI Lombard Q4 net up 19% to Rs 519.50 cr driven by premium growth

The gross direct premium income (GDPI) of the insurer was 22% higher at Rs 6,073 crore in Q4 FY24 from Rs 4,977 crore in Q4 FY23

PB Fintech surges 7%, hits 2-year high on pact with ICICI Lombard

Stocks of PB Fintech are trading at its highest level since November 2021. It had hit a record high of Rs 1,470 on November 17, 2021

ICICI Lombard ties up with Policybazaar to offer insurance products

The partnership will significantly augment insurance distribution, ensuring that comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform

Irdai allows firms to offer customised insurance to match customer needs

That there is no flash in the pan has been made clear by the insurance regulator when it announced these changes through a series of gazette notifications on Friday

Sion Investment exits CMS Info; ICICI Bank ups stake in ICICI Lombard

Private sector lender ICICI Bank on Tuesday hiked its stake in ICICI Lombard General Insurance by 1.42 per cent

ICICI Lombard hits new high; stock surges 5% on heavy volumes

Till 11:54 AM; a combined 8.77 million equity shares representing 1.8 per cent of total equity of ICICI Lombard changed hands on the NSE and BSE, data shows.

Strong growth rates in Q3FY24 hold more target gains for ICICI Lombard

The growth may be driven by a pickup in the motor segment as competition eases and an increased focus on retail health. Merger synergies could result in higher yields

Stocks to Watch on Jan 17: Asian Paints, HDFC Bank, LTTS, Godrej Prop, LTIM

Stocks to watch on Wednesday, January 17, 2024: HDFC Bank reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for Q3FY24, topping estimates by over 1 percentage point

ICICI Lombard Q3 results: Profit up 22% at Rs 431 crore as premiums climb

Profit after tax rose to 4.31 billion rupees (nearly $52 million) for the quarter ended Dec. 31 from 3.53 billion rupees ($42.61 million) a year earlier, the ICICI Bank - backed company said

Return to office affects women's social wellness: ICICI Lombard study

An enhanced utilisation of digital platforms for wellness is a trend that has been catalysed by the push received during the lockdown and is now becoming a mainstay in the pursuit of well-being

ICICI Lombard Q2 results: Net profit dips by 2% due to rise in expenses

The underwriting loss narrowed to Rs 146 crore, down from Rs 152.3 crore in Q2FY23

Stocks to Watch today: Adani Group, TVS, Bajaj Auto, ICICI Lombard, Emami

Stocks to watch on Friday, September 29, 2023: Shares of Adani Group to be in focus amid reports that Abu Dhabi conglomerate IHC plans stake stake in Adani Green and Adani Energy Solutions.