Page 2 - Icici Lombard General Insurance

Asian Development Bank appoints Bhargav Dasgupta as VP of market solutions

This comes after Dasgupta stepped down as managing director and chief executive officer of ICICI Lombard General Insurance Company on Thursday

Bhargav Dasgupta steps down as MD & CEO of ICICI Lombard General Insurance

Dasgupta, who was appointed as the MD & CEO of the general insurer in May 2009, served the company for over 14 years

Reappointment of ICICI Bank CEO Sandeep Bakhshi gets RBI approval

Bakhshi took charge of the second largest lender on October 15, 2018. Prior to his appointment as MD & CEO, he was a Wholetime Director and the Chief Operating Officer (COO) of ICICI Bank

ICICI Lombard gets Rs 273 crore tax-demand notice from DG GST Intelligence

ICICI Lombard General Insurance has received a Rs 273.44 crore-tax demand notice from the Directorate General of GST Intelligence with regard to settled motor insurance claims. According to a regulatory filing, ICICI Lombard, on August 8, received a show cause notice, dated July 26, alleging a tax demand of Rs 273,44,50,284 under the GST Act along with interest and penalty. "The matter largely relates to an industry-wide issue on applicability of GST on salvage adjusted and ineligible input tax credit, on motor claims settled. The company has deposited Rs 104,13,18,970 under protest, without accepting any liability in this regard," it said. Further, ICICI Lombard said the company would be filing its response to the show cause notice. Shares of ICICI Lombard General Insurance closed 1.70 per cent lower at Rs 1,391.60 apiece on the BSE on Wednesday.

ICICI Lombard posts 12% rise in Q1 profit on higher investment income

Income from investments jumped nearly 27% to 6.22 billion rupees, helped by an increase in the market value of securities and higher profits on the sale of investments

Sensex ends choppy day 205 pts up; Nifty below 19,750; IT index sole gainer

Closing Bell on July 18: Infosys, HCL Tech, Reliance Industries, Hero MotoCorp, Bajaj Auto, ICICI Bank, Wipro, Bajaj Finserv, and Adani Enterprises were some of the notable gainers

Stake buy: Strategies for ICICI Bank, ICICI Lombard General Insurance

Technically, ICICI Bank is poised for an upside up to 10 per cent, while ICICIGI must sustain over the 200-DMA

ICICI to move ahead with its plan to increase 4% stake in Lombard business

In a similar move, The RBI had given the HDFC Bank the permission to increase its take in HDFC Life Insurance and HDFC Ergo General Insurance beyond 50 per cent

Axis Bank, L&T, Thermax: Chris Wood rejigs India equity portfolio

Chris Wood has added Axis Bank and increased holding in Larsen & Toubro in India long-only portfolio Asia ex-Japan, excludes ICICI Lombard General Insurance.

IT drags benchmarks lower for 3rd day; Sensex dips 159pts, Nifty near 17600

CLOSING BELL: Infosys, TCS and HCL Technologies, down 1.3 - 2.4 per cent, collectively accounted for a loss of 156 points on the BSE Sensex.

ICICI Lombard General Insurance profit rises 40% as premiums climb

The Mumbai-based insurer's March-quarter profit after tax rose to Rs 437 crore ($53.29 million), from Rs 313 crore posted a year ago

ICICI Lombard slips 6% on disappointing Q3 results

ICICI Lombard delivered weaker-than-expected performance in Q3FY23 on all counts - weaker premium, lower investment income, and higher expense ratio, Motilal Oswal Financial Services said

ICICI Lombard's net profit rises 11% in Q3 on strong premium income

Gross premiums earned by the insurer was up 17 per cent YoY to Rs 5,600 crore in Q3FY23

Irdai approves amendments, simplifies rules to set up insurance firms

Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV

General Insurance company ICICI Lombard launches new range of products

Offers for senior citizens without an age cap

ICICI Lombard Q2 net up 32% to Rs 591 cr on reversal of tax provision

Gross direct premium income up 17% to Rs 5,185 cr; combined ratio, which indicates underwriting discipline, stable at 105.1%

Cyber frauds: Banks step up efforts to promote safe banking habits

Apart from HDFC Bank's 'Vigil Aunty', a host of private sector general insurers also offer individual cyber insurance policies

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

Insurance stocks: Analysts see decent upside in HDFC Life, ICICI Lombard

Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers

ICICI Lombard General Insurance dips 5% post June quarter earnings

The country's largest private sector general insurer reported 80 per cent YoY growth in net profit at Rs 349 crore in Q1FY23 on the back of a healthy growth in premium income.