ICICI Lombard has approved an investment of ₹50 million in Bima Sugam, a non-profit insurance marketplace, marking a significant step in expanding insurance access. This investment, which accounts for 50 lakh shares, is part of ICICI Lombard’s larger strategy to invest up to 10% of Bima Sugam’s equity.
The move aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) efforts to increase the availability of insurance products and promote financial inclusion across the country.
This strategic investment is expected to enhance the insurance ecosystem, benefiting both the industry and customers, and aligns with the company’s long-term vision to support the digital transformation of the insurance sector.
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ICICI Lombard