Page 5 - Icici Lombard
Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal
Insurance Regulatory and Development Authority of India (Irdai) on Friday gave in-principle approval for the merger of Bharti AXA General with ICICI Lombard. ICICI Lombard is progressing applications for receipt of requisite approvals from other concerned regulators for the transaction, the insurance company said in a regulatory filing. Upon closing of the proposed transaction, the consolidated entity will have a market share of about 8.7 per cent on a pro forma basis in the non-life business, it added. The proposed transaction is expected to result in value creation for all stakeholders through meaningful revenue and operational synergies, it said. "Further, policyholders should benefit from an enhanced product suite and deeper customer connect touchpoints," the company said, adding the employees of the combined business will also benefit via greater opportunities across functions and geographies. Marking a major consolidation move in the insurance space, the proposed deal was ..
 "Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal")
ICICI Lombard hits new high, enters the top 50 most-valued companies list
The stock rallied 6 per cent to Rs 1,464 on the BSE, surpassing its previous high of Rs 1,439.90 touched on December 26, 2019.
 "ICICI Lombard hits new high, enters the top 50 most-valued companies list")
ICICI Lombard Q2 net profit rises 35% on improved underwriting practices
The company reported a combined ratio of 99.7 per cent in Q2FY21, compared to 102.6 per cent in Q2FY20. Combined ratio is the measure of profitability of a general insurance company
 "ICICI Lombard Q2 net profit rises 35% on improved underwriting practices")
ICICI Lombard reports 35% jump in net profit at Rs 416 cr in Sept quarter
The insurer had posted a net profit of Rs 307.91 crore for the year-ago period.
ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector
Combined entity will be third-largest non-life insurer
 "ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector")
Street finds discomfort in ICICI Lombard-Bharti Axa merger deal
Bharti Axa's weak underwriting and high combined ratio are earnings dilutive, while valuations are on the higher side
 "Street finds discomfort in ICICI Lombard-Bharti Axa merger deal")
Financial stocks lift indices, Sensex gains 364 pts; Nifty ends at 11,466
All that happened in the markets today
 "Financial stocks lift indices, Sensex gains 364 pts; Nifty ends at 11,466")
In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance
In a share swap deal, non-life insurer ICICI Lombard General Insurance Company will acquire the business of Bharti AXA General Insurance Company Ltd
 "In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance")
Bharti AXA, ICICI Lombard ink definitive pact to merge non-life businesses
The combined entity, with an expected market share of 8.7 per cent in the non-life business, would be the third-largest non-life insurer in the general insurance business
ICICI Lombard Q1 net profit up 28% at Rs 398 cr but GDPI dips 5.3%
The combined ratio stood at 99.7 per cent compared to 100.4 per cent in the same period, primarily driven by Covid-19 pandemic despite losses incurred due to catastrophic events
Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900
All that happened in the markets today
 "Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900")
Axis Bank gets approval to raise up to Rs 15,000 cr to tide over Covid-19
In a meeting held on Thursday, the private lenders' board approved the capital raising plan through issue of equity shares/ depository receipts or any other instrument or securities
 "Axis Bank gets approval to raise up to Rs 15,000 cr to tide over Covid-19")
Digitised selling, servicing of insurance get a fillip amid pandemic
Insurers have made a leap from manual paper-bound process to end-to-end paper-less or digital-based selling through all the channels of distribution
 "Digitised selling, servicing of insurance get a fillip amid pandemic")
Top headlines: RIL becomes net debt free, ICICI Bank's stake sale and more
From Reliance Industries net debt free to India-China border clash, here are the top headlines of the day
 "Top headlines: RIL becomes net debt free, ICICI Bank's stake sale and more")
Can't deny health claims for policies beyond 8 years, says Irdai
Non-disclosure not a valid ground after moratorium period
 "Can't deny health claims for policies beyond 8 years, says Irdai")
ICICI Lombard pares waiting period, adds home care facility in health plans
Waiting period for bew customers reduced from 30 days to 15 days for covid-related claims with no hike in premium. Claims related to other illness will still have a 30-day waiting period
Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO
The reason we need standardisation is because it will smoothen the process for customers as there won't be any dispute with hospitals, says Bhargav Dasgupta, ICICI Lombard MD & CEO
 "Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO")
ICICI Lombard Q4 results: There's no insurance cover against slowdown
Premium income (excluding crop biz) lagged industry growth in Q4
 "ICICI Lombard Q4 results: There's no insurance cover against slowdown")
ICICI Lombard's pre-tax profit up 7% in Q4 on improved loss ratio
Underwriting losses narrowed down to Rs 29.42 crore in Q4FY20, from Rs 49.70 crore a year ago
Flipkart, ICICI Lombard offer health plan for Covid-19 with instant claim
'Covid-19 Protection Cover' provides an instant Rs 25,000 benefit plan for to the customer if he tests positive for Covid-19
 "Flipkart, ICICI Lombard offer health plan for Covid-19 with instant claim")
