ICICI Lombard | Business Upturn

ICICI Lombard schedules analyst and investor meets for May 2026

Yash Agarwal — Wed, 22 Apr 2026 13:08:02 +0000

ICICI Lombard General Insurance Company has announced its schedule for upcoming analyst and institutional investor meetings to be held in May 2026. The company has planned two significant events, with a focus on engaging with key stakeholders and providing insights into its operations.

The first meeting is set to take place on 6th May 2026 in Mumbai. This will be a virtual group meeting as part of J.P. Morgan’s Asia Insurance Forum 2026. This forum is expected to bring together industry leaders and analysts to discuss trends and developments in the insurance sector.

Following this, ICICI Lombard will participate in the 360 ONE Capital (B&K) 16th Annual Investor Conference – TRINITY INDIA 2026, scheduled for 27th May 2026. This conference will be held in-person, also in Mumbai, and will provide an opportunity for in-depth discussions with investors and analysts about the company’s strategies and market outlook.

ICICI Lombard has assured that no unpublished price-sensitive information will be shared during these meetings, in compliance with regulatory requirements. The schedule and details of these meetings are available on the company’s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Stocks to watch on brokerages today, April 16: Aurobindo Pharma, Adani Enterprises, HAL, ICICI Lombard in focus

Aman Shukla — Thu, 16 Apr 2026 03:16:42 +0000

Brokerage firms have shared fresh views on several key Indian stocks on April 16, highlighting developments across pharmaceuticals, infrastructure, cement, retail, insurance, NBFCs and defence. Stocks like Aurobindo Pharma, Adani Enterprises, Nuvoco Vistas, Trent, ICICI Lombard, HDB Financial Services, and Hindustan Aeronautics Limited are expected to remain in focus based on upgrades, target price changes, and sectoral tailwinds.

Aurobindo Pharma

Macquarie has maintained an “Outperform” rating on Aurobindo Pharma with a target price of ₹1050. The brokerage highlighted that the company’s subsidiary, TheraNym Biologics, has expanded its contract manufacturing agreement with Merck.

As part of the deal, a greenfield biologics manufacturing facility with 60,000-litre capacity will be set up, involving an investment of $150–175 million. While the agreement reinforces Aurobindo’s biologics capabilities, meaningful financial gains are expected only after 3–4 years.

Adani Enterprises

Jefferies has reiterated a “Buy” rating on Adani Enterprises, though it has cut the target price to ₹2600 from ₹2750.

The brokerage noted that airport traffic softness is affecting near-term growth, delaying the ramp-up of Navi Mumbai International Airport. However, non-aeronautical revenues and real estate monetisation remain strong.

The company’s new energy business continues to benefit from energy security trends, with solar capacity expansion at Mundra expected to support EBITDA from FY27. Meanwhile, copper and road businesses are also expected to scale up.

Nuvoco Vistas

Multiple brokerages remain bullish on Nuvoco Vistas after a strong Q4FY26 performance.

HSBC (TP ₹420), Nomura (TP ₹470), and Jefferies (TP ₹410) have all maintained “Buy” ratings.

The company reported strong volumes, revenue and EBITDA, supported by better realisations. Price hikes across trade and non-trade segments are expected to offset rising input costs.

However, near-term pressure from fuel, packaging and gypsum costs may impact margins for the next 1–2 quarters. The company has also approved a 1.5 MTPA bulk cement terminal at Viramgam, strengthening its expansion strategy.

Trent

HSBC has maintained a “Buy” rating on Trent, but reduced the target price to ₹4800 from ₹5300.

The brokerage expects continued store expansion, particularly for Zudio, with around 200 new stores planned. While productivity moderation is a concern, sustained growth of 18–20% remains a key trigger for the stock.

ICICI Lombard

Brokerages are divided on ICICI Lombard after its Q4FY26 results.

Goldman Sachs has a “Neutral” rating with a target price of ₹1965, noting strong premium growth and improvement in combined ratio.

On the other hand, HSBC remains bullish with a “Buy” rating and a higher target price of ₹2200, citing continued growth momentum and potential upside from IFRS implementation.

HDB Financial Services

Nomura has a “Neutral” stance on HDB Financial Services with a target price of ₹740, highlighting improving asset quality and stable cost of funds.

Meanwhile, Jefferies is more optimistic, assigning a “Buy” rating with a target price of ₹845. The brokerage expects strong earnings growth driven by improving credit costs, stable margins, and a pickup in loan growth.

HAL

Citi has maintained a “Buy” rating on Hindustan Aeronautics Limited with a target price of ₹5560.

The brokerage highlighted a key agreement between HAL and GE Aerospace for the co-production of F414 engines in India. These engines are expected to power Tejas Mk2 and early AMCA Mk1 aircraft.

While execution timelines remain a watch factor, the development is seen as a strong medium-term positive.

Renewable energy stocks

Jefferies expects India’s renewable energy capacity to reach 359 GW between FY25 and FY30, driven by energy security concerns and government push.

Stocks like JSW Energy and NTPC are preferred picks in the power space, while Premier Energies and Emmvee stand out in the solar PV segment due to strong balance sheets and robust order books.

ICICI Lombard receives court stay on ₹31.18 crore GST demand order

Business Desk — Sun, 29 Mar 2026 16:15:29 +0000

ICICI Lombard General Insurance Company has been granted a stay by the Hon’ble Bombay High Court on a GST demand order amounting to ₹31,18,41,716. The order, initially issued by the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate, pertains to the period from July 2017 to March 2024.

The company had previously challenged the order, which included a penalty of an equivalent amount, in a writ petition. The demand was related to the applicability of GST on supplies of Group Health Insurance and Group Personal Accident policies to units located within a Special Economic Zone.

On March 28, 2026, ICICI Lombard received the court’s decision, which stays the execution of the impugned order until the final disposal of the writ petition. The court has also provided four weeks for the Revenue to file their reply.

At this stage, ICICI Lombard has indicated that there are no expected financial implications resulting from this development.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

ICICI Lombard acquires shares worth ₹0.39 billion in HDFC Bank

Kinjal — Thu, 19 Mar 2026 16:23:55 +0000

ICICI Lombard General Insurance Company has announced the acquisition of shares in HDFC Bank Limited valued at ₹0.39 billion as of 19 March 2026. This investment is part of the company’s ordinary course of investment function.

HDFC Bank, India’s largest private sector bank, has a market capitalisation of ₹12.31 trillion as of 19 March 2026. The acquisition does not constitute a related party transaction, although ICICI Lombard‘s promoter group entities may have business-related transactions with HDFC Bank at arm’s length.

The acquisition was executed in multiple tranches over a period of time, with the latest tranche completed on 19 March 2026. Post-acquisition, ICICI Lombard holds a 0.05% stake in HDFC Bank.

HDFC Bank, incorporated on 30 August 1994, offers a wide range of banking services, including commercial and investment banking on the wholesale side and transactional and branch banking on the retail side. The bank’s turnover for the last three financial years was ₹4,709.16 billion in 2024-25, ₹4,079.94 billion in 2023-24, and ₹2,046.66 billion in 2022-23.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

After Hatsun Agro, ICICI Lombard’s Q3 results uploaded on Whatsapp status by a management perso

Aman Shukla — Sat, 10 Jan 2026 07:44:12 +0000

ICICI Lombard General Insurance Company Limited has recently informed exchanges that a designated person from the company accidentally uploaded draft unaudited financial results for the quarter and nine months ended December 31, 2025 (Q3 FY26) on their personal WhatsApp status. The incident occurred on January 9, 2026, around 5:44 p.m., and the status was deleted within an hour after the error was noticed.

This marks the second such incident in quick succession in the Indian market, following a similar accidental disclosure by Hatsun Agro Product Ltd. earlier in January 2026, where a senior executive inadvertently shared draft Q3 figures on WhatsApp.

What Happened in the ICICI Lombard Case?

According to the disclosure, the incident was detected within an hour of posting, following which the WhatsApp Status was promptly deleted. ICICI Lombard emphasised that the financial data shared was only in draft form and remains subject to change as the statutory audit process is currently underway.

As a precautionary step and in line with strong corporate governance standards, the insurer voluntarily reported the incident to the stock exchanges. The company also issued a clear advisory urging investors and market participants not to rely on any information related to its financial performance unless it is officially released after approval by the Board of Directors.

ICICI Lombard stated that the matter will be formally placed before the Audit Committee and the Board of Directors in their upcoming meetings. In addition, an internal inquiry has been initiated in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, along with the company’s Insider Trading Code and other applicable internal policies.

The insurer has assured that once the internal investigation is completed, the outcome of the inquiry will be disclosed to the stock exchanges in a transparent manner. The company reiterated its commitment to regulatory compliance, information security, and timely disclosure practices.

ICICI Lombard Q2 Results: Net profit rises 18% YoY Rs 819.5 crore, approves interim dividend of Rs 6.5 per share

Aman Shukla — Tue, 14 Oct 2025 12:36:42 +0000

ICICI Lombard General Insurance has posted robust Q2 results, showcasing strong growth across key financial metrics. The company reported a net profit of ₹819.5 crore, marking an impressive 18.1% increase compared to ₹693.9 crore in the same quarter last year. Its total income rose 12.5% to ₹6,582.7 crore, up from ₹5,850 crore YoY, reflecting steady business expansion.

Gross premiums grew 1.6% to ₹7,058.9 crore, indicating stable underwriting performance. The combined ratio stood at 105.1%, slightly higher than last year’s 104.5%, showing the company’s balanced approach to risk management.

In a positive development for investors, ICICI Lombard approved an interim dividend of ₹6.5 per share, underlining its commitment to shareholder returns.

In the meantime, ICICI Lombard shares closed at ₹1,865.00 today. The stock opened at ₹1,838.00, touched an intraday high of ₹1,865.00, and a low of ₹1,831.40. Over the past 52 weeks, the share has seen a high of ₹2,145.00 and a low of ₹1,613.70.

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

Top Q2 results today, October 14: Tech Mahindra, ICICI Lombard, ICICI Prudential, IREDA and more to announce earnings

Aman Shukla — Tue, 14 Oct 2025 02:44:58 +0000

Several major Indian companies are set to announce their Q2 FY26 results today, October 14, 2025, across diverse sectors including IT, banking, insurance, energy, and hospitality. Among the top names on the list are Tech Mahindra Ltd, ICICI Lombard General Insurance, and ICICI Prudential Life Insurance, which are expected to draw strong investor attention as markets look for earnings cues from large-cap players.

Other notable firms declaring results today include Persistent Systems, Bank of Maharashtra, and Indian Renewable Energy Development Agency (IREDA). Companies such as Leela Palaces Hotels & Resorts, Thyrocare Technologies, and Cyient DLM will also unveil their quarterly performance.

Additionally, smaller listed entities like GTPL Hathway, Aditya Birla Money, Rama Phosphates, Navkar Corporation, and Automobile Corporation of Goa (ACGL) are set to report their financials, providing a comprehensive picture of corporate earnings momentum this quarter.

ICICI Lombard premium sees double-digit MoM drop in August

Aditya Bhagchandani — Mon, 08 Sep 2025 09:39:11 +0000

ICICI Lombard General Insurance Co. Ltd. reported a double-digit month-on-month (MoM) decline in premium collections for August, according to provisional industry data.

The fall highlights a sharp sequential slowdown, in line with broader volatility across the general insurance sector where multiple players, including New India Assurance and Star Health, also reported August declines.

Further details on the exact percentage fall, year-on-year (YoY) trend, and segmental contribution are awaited.

This is a developing story and will be updated as more disclosures emerge.

HDFC Life, ICICI Lombard shares in focus as IRDAI may cap health insurance premium hikes

Aman Shukla — Fri, 22 Aug 2025 06:57:40 +0000

Shares of life and general insurance companies are likely to remain in focus after reports suggested that the Insurance Regulatory and Development Authority of India (IRDAI) is considering measures to regulate health insurance premium hikes.

According to CNBC-TV18, sources indicate that IRDAI may cap premium increases both at the product level as well as at the overall portfolio level. The regulator is also exploring a proposal to link annual premium hikes with the prevailing rate of medical inflation.

Recently, IRDAI had capped premium hikes for senior citizen health policies at 10%, a move aimed at protecting vulnerable policyholders from sharp price escalations. Market participants now expect a wider consultation paper on premium regulation to be released soon.

Health insurance has become a significant growth driver for insurers. In FY25, health insurance accounted for nearly 40% of the total premium for the general insurance industry. For individual players, the segment’s contribution is also noteworthy — about 30% for ICICI Lombard, 50% for New India Assurance, and 14% for Go Digit.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Top stocks in focus on July 16: Biocon, Dixon Technologies, IndiGo, ICICI Lombard, HDFC Life and more

Aman Shukla — Wed, 16 Jul 2025 02:07:58 +0000

Indian stock markets are expected to witness stock-specific action on Wednesday, July 16, as a series of corporate developments, quarterly earnings, and regulatory updates come into play.

Stocks to Watch – July 16, 2025

Biocon – USFDA nod for insulin biosimilar to Novolog
CFF Fluid Control – MoU signed with GRSE
Lemon Tree Hotels – Opens 6th property in Tamil Nadu (Erode)
Aris Infra – MoU with Wadhwa Construction for Panvel project
20 Microns – Stake increased by Dolly Khanna in Q1
Godavari Biorefineries – Patent granted for cancer treatment compound
Hathway Cable – Strong YoY growth in net profit and revenue
HSCL – Improved quarterly earnings
ICICI Lombard – Sharp rise in profit and NPE
Brigade Enterprises – BuzzWorks expands in Hyderabad
Spandana Sphoorty – ₹400 crore rights issue announced
Zydus Lifesciences – USFDA approval for Celecoxib capsules
ICICI Bank – S&P revises credit profile upward
Cupid – Investment in GII Healthcare to expand in Middle East
Thirumalai Chemicals – Reports construction progress in US unit
KPI Green – LOI received for 150 MW wind power projects in Gujarat
Pavna Industries – Wins new OEM business for switches & latches
Axis Bank – Ratings reaffirmed by Crisil
Dixon Technologies – To acquire 51% stake in Q Tech India
HDFC Life – Net profit rises YoY
TCS – Launches AI research series with MIT Sloan
Just Dial – Higher YoY profit and revenue
Adani Ports – Approves $200 million debt buyback plan
Yes Bank – Board to meet July 19 for fundraising proposal
IndiGo – Appoints new independent director
PVR Inox – Karnataka government proposes ticket price cap
MTNL – Defaults on ₹8,585 crore in loans and interest
Patel Engineering – Court dismisses appeal in arbitration case

Top Q1 results today, July 15: HDFC Life, ICICI Prudential Life, ICICI Lombard, Just Dial and more to announce earnings

Aman Shukla — Tue, 15 Jul 2025 02:43:06 +0000

The first quarter results season is in full swing, and several important companies are set to announce their financial performance for Q1 of FY 2025-26 on Tuesday, July 15. Investors and market watchers will be keeping a close eye on these updates to get a better sense of how businesses are shaping up in the new financial year.

Among the big names, HDFC Life Insurance, ICICI Prudential Life Insurance, and ICICI Lombard General Insurance will be in focus as they unveil their earnings. Alongside them, HDB Financial Services, Bank of Maharashtra, and AWL Agri Business will also report their numbers.

Several mid- and small-cap firms like Himadri Speciality Chemical, Just Dial, Network18, Swaraj Engines, Geojit Financial, and GM Breweries are also on the list.

Other companies set to release results include:

Hathway Cable and Datacom
Plastiblends India
Nureca
Kretto Syscon
Key Corporation
Kamadgiri Fashion
RR Financial Consultants
Vijay Textiles
Tokyo Finance

With such a wide range of companies reporting, Tuesday could bring key cues for the markets and investors looking to reassess their portfolios based on quarterly performance.

ICICI Lombard shares surge 5% as reports suggest a hike in the third party motor premium

Aman Shukla — Fri, 06 Jun 2025 08:16:14 +0000

ICICI Lombard stock rose 5% after reports emerged that the Ministry of Road Transport and Highways is reviewing a proposal to increase motor third-party (TP) insurance premiums for FY26. As of 1:43 PM, the shares were trading 5.58% higher at Rs 1,982.20.

According to a CNBC-TV18 exclusive, the Insurance Regulatory and Development Authority of India (IRDAI) has recommended an average increase of 18% in motor TP premiums, with suggestions of a 20–25% hike for certain vehicle categories.

Motor third-party insurance is a mandatory policy for all vehicle owners in India. However, premiums have remained unchanged for the past four years despite rising claims and mounting losses for insurers. In FY25, motor TP insurance accounted for nearly 60% of total motor insurance premiums and 19% of the overall general insurance premium base.

Sources told CNBC-TV18 that the Road Ministry is expected to take a final decision within the next two to three weeks. A draft circular outlining the revised premiums will be issued once the ministry grants approval. Analysts suggest that a 20% hike in TP premiums could improve insurers’ combined ratio by around 4–5%, offering some relief to the sector.

ICICI Lombard shares drop over 6% last week ahead of Q4 FY25 results announcement

Aman Shukla — Mon, 14 Apr 2025 05:18:18 +0000

Shares of ICICI Lombard General Insurance Co. Ltd. declined more than 6% last week as investors await the company’s Q4 results for FY25. The insurance provider is scheduled to announce its earnings on April 15, 2025.

In a recent stock exchange filing, ICICI Lombard stated that its Board of Directors will meet on April 15 to review and approve the audited financial results and statements for the quarter and financial year ending March 31, 2025.

Q3 FY25 Performance Overview

For the quarter ended December 31, 2024, ICICI Lombard reported a 67.9% year-on-year increase in net profit, which rose to ₹724.4 crore from ₹431.5 crore in the corresponding period of the previous year.

However, the company’s gross written premium declined marginally by 0.3%, falling to ₹6,214 crore in Q3 FY25 from ₹6,230 crore in Q3 FY24.

The return on average equity (ROAE) improved to 21.5% during the December quarter, up from 15.3% in the same period last year. Additionally, the combined ratio—a key metric indicating the insurer’s operational efficiency—decreased to 102.7%, compared to 103.6% a year earlier. A lower combined ratio suggests better profitability from underwriting operations.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

ICICI Lombard approves investment of Rs 5 crore in Bima Sugam to expand insurance access

Aman Shukla — Tue, 26 Nov 2024 06:16:41 +0000

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.

ICICI Lombard shares slip 4% on mixed Q4, brokerage cuts

Markets Desk — Wed, 19 Apr 2023 05:13:38 +0000

Shares of ICICI Lombard slip over 4% in trade today after the company reported a mixed set of Q4 numbers. The company’s net profit for the quarter came in at Rs 437 crore against a poll of Rs 377 crore by CNBC-TV18. However, the GDPI (Gross Direct Premium Income) missed street expectations.

Brokerages too tweaked their estimates and cut their target price on the stock. Brokerages firm Jefferies cut its target price on the stock to Rs 1,560 and believes that the impact of rise in cost of reinsurance & industry discipline under EOM regime should be watched out for going forward. JP Morgan has a Neutral rating on the stock, but cut its target price to Rs 1,160 per share, citing that the motor segment is likely to remain competitive.

The stock hit a day’s low of Rs 1,082 in the morning trade on Wednesday against its previous close of Rs 1,130. At 10:40 AM, the stock was down 3.7% or Rs 42 at Rs 1,088.

Stocks To Watch Today: ICICI Lombard, Tata Coffee, Piramal Pharma, Bank of India

Markets Desk — Wed, 19 Apr 2023 01:13:38 +0000

The SGX Nifty signals a muted start for the Sensex, Nifty today. Cues from US markets remained muted as Dow Jones, S&P 500 and Nasdaq ended flat on Tuesday. Markets in India continued to slide further for the second straight session on Tuesday amid no fresh triggers and no big cues from the earnings season so far.

Top stocks to watch today are ICICI Lombard, Tata Coffee, Piramal Pharma, Bank of India, besides others.

ICICI Lombard: Shares of ICICI Lombard will be in focus as the company reported a mixed set of Q4 earnings. The company’s net profit for the quarter came in at Rs 437 crore against a poll of Rs 377 crore by CNBC-TV18.

Tata Coffee: Tata Coffee reported a mixed set of Q4 earnings. The company’s consolidated revenue in Q4 grew 10% YoY at Rs 723 crore against Rs 656 crore during the same period last year. Its EBITDA however fell 5% at Rs 106 crore against Rs 111 crore during the same period last year.

Piramal Pharma: Shares of Piramal Pharma will be in focus after the US FDA concluded its inspection at company’s Sellersville Mfg Facility. The regulator has further issued an Establishment Inspection Report (EIR) for the Sellersville Mfg Facility

Bank of India: The public sector bank announced that its board of directors approved raising of capital up to Rs 6,500 crore for FY24, comprising Rs 4,500 crore via the issue of fresh equity capital in the form of FPO/QIP/Rights issue/preferential issue and/or Basel III compliant additional Tier-1 (AT-1) bonds, and Rs 2,000 crore via Basel III compliant Tier-2 bonds.

Stock Market update: ICICI Lombard shares down by 5% post Q3 results

Shifali Gorka — Thu, 20 Jan 2022 07:49:34 +0000

The shares of insurance company ICICI Lombard fell by 5% in today’s trade. The share price hit at Rs 1351.75 per share. Today’s trade opened with the share price of Rs 1394.00 per equity share representing a decrease of 2.04% and marking today’s high.

The country’s leading private-sector non-life insurance company ICICI Lombard General Insurance announced its financial report results for the quarter ending December 2021 on Wednesday. The company reported an increase of 1.28% in net profit to Rs 318 crore in the October–December quarter (Q3FY22). However, the net profit was down by 29%.

The company’s gross direct premium income rose 16 percent to Rs 4,699 crore in the quarter ending December 2021 as compared to Rs 4,034 crore in the same period of the previous financial year and investment income saw a 20 per cent growth to Rs 532.23 crore.

Following this, the company’s underwriting losses increased in Q3FY22 to Rs 269.19 crores as compared to Rs 100.73 in the previous quarter and Rs 135.41 crore in Q3FY21.

“In the current quarter, we are reporting combined numbers with the book that has come in from Bharti Axa general insurance. We have always been saying on a proforma basis, their combined ratio and ours put together was around 104 per cent. From now on, we will have to see how we will see the synergy benefits so that combined ratio comes under control”, said Bhargav Dasgupta, MD&CEO of ICICI Lombard.

“Generally, there has been a very aggressive market share grabbing approach followed by some of the players to show growth and that has impacted our overall pricing and cost structure,” he further said. The net revenue of ICICI Lombard General Insurance in FY2021 stood at Rs 2472.46 crores whereas in FY2020 stood at 2024.10.

ICICI Lombard shares trade at 52-week-high of Rs 1500 post receiving ‘in-principle approval’ to acquire Bharti AXA

Akanksha Yadav — Tue, 01 Dec 2020 07:15:34 +0000

ICICI Lombard General Insurance Company’s share prices rallied 2 percent in a day on December 1 and traded at a 52-week-high of Rs 1500 post received the ‘in-principle approval’ to acquire Bharti AXA General Insurance.

The Insurance Regulatory and Development Authority of India (IRDAI) on November 27 had given the ‘in-principle approval’ to ICICI Lombard General Insurance Company Limited to acquire the General Insurance business of Bharti AXA General Insurance Company Limited by, the company stated in an exchange filing. Bombay Stock Exchange Limited, National Stock Exchange of India Limited and the Competition Commission of India (CCI) had previously approved of the proposed acquisition by ICICI.

The stock was up by Rs 37.05 or 2.55 percent and traded at Rs 1,492.80 at 10:44 hours. The stocks touched a 52-week high of Rs 1,500 intraday and an intraday low of Rs 1459.50. “Post submission of all the required documents/information, the authority hereby grants ‘In-principle’ approval under section 35 to 37 read with IRDA Regulations, 2017 for demerger of general insurance business undertaken by Bharti AXA to ICICI Lombard,” the statement read.

Currently, 51 percent is held by Bharati Enterprises in Bharti AXA General and the firm has a joint venture with French firm AXA which owns 49 percent stake. With the acquisition deal with ICICI Lombard in place, Bharti and AXA will be public shareholders in the combined entity.

ICICI Bank stocks rise 2% after exemption from the Banking Regulation Act of 1949

Aditi Swarup — Tue, 15 Sep 2020 12:56:52 +0000

As per the Banking Regulation Act 1949, 19(2) ‘no banking company shall hold shares in any company, whether as pledgee, mortgagee or absolute owner, of an amount exceeding thirty per cent.’
On 14th September ICICI Bank announced that as per government provisions it has been exempt from the regulations of the aforementioned act.
This resulted in a 2% rise in the ICICI Bank stock in the 15the of September.
The company released a statement saying, “As previously announced by ICICI Lombard General Insurance Company, it has proposed an acquisition of another general insurance business (Bharti AXA General), which if consummated would result in ICICI Bank’s shareholding in ICICI Lombard General Insurance Company Limited reducing to less than 50%.”

ICICI Lombard insurer in negotiations to purchase Bharti AXA

Pravin Suryawanshi — Tue, 11 Aug 2020 05:52:16 +0000

ICICI General Insurance Agency. Ltd, India’s largest non-life private insurer, is in advanced talks to acquire
Bharti AXA General Insurance Co. Ltd, and merging the two companies’ insurance properties, said two people aware of the talks.

Both companies are negotiating Bharti AXA’s valuation calling for anonymity, the people have said.

ICICI Lombard, which has a market share of 8.4 percent and owns 51.89 percent of ICICI Bank Ltd, experienced a gross premium of 3,302.19 crores in the quarter of June, 5.3 percent lower than last year’s period. However, that was in line with a downturn in the industry as a whole. In contrast, Bharti AXA General posted a 12 percent year-on-year drop in gross premium to a quarterly drop to some 508.93 crores.

The acquisition plans come at a time when the general insurance industry is reeling due to the disruption caused by the COVID-19 pandemic and the economic slowdown. The existing 25 general insurers (excluding standalone health insurers) saw a 6% drop in premium in the June quarter due to a steep slowdown in sales of non-life policies in the wake of a prolonged lockdown that led to a temporary halt in most commercial activities.

Bharti Enterprises currently owns 51% in Bharti AXA General, while its France-based JV partner AXA has 49%.

According to industry estimates, Bharti AXA has a market value of ₹2,800 crores. ICICI Lombard is valued at ₹62,827 crores.