About ICICI Lombard General Insurance Company Limited 

ICICI Lombard General Insurance Company Limited is one of India’s leading non-life insurers, incorporated on October 30, 2000 and registered by the Insurance Regulatory and Development Authority of India to undertake general insurance business on August 3, 2001. Its equity shares have been listed on BSE and NSE since September 27, 2017. The Company also operates an IFSC Insurance Office at GIFT City, registered on January 20, 2021 and operational from April 1, 2021, to underwrite international business. 

It offers a comprehensive suite of products across Motor, Health, Travel, Personal Accident, Fire, Marine, Engineering, Liability, Crop, Cattle and Weather, distributed through agents, brokers, bancassurance, MISPs, digital alliances and online platforms. The nationwide footprint includes 328 branches and 992 virtual offices as on March 31, 2025, supported by a tech-forward model and omnichannel presence; during FY2025, 37.6 million policies were issued and 3.2 million claims were processed . The Company has no subsidiaries.

ICICI Lombard General Insurance Company Limited’s Key Milestones 

• Leadership among private-sector non-life insurers in India across Motor, Fire, Engineering, Liability and Marine Cargo.
• Being the second-largest general insurer in India on GDPI basis for fiscal 2025 . 
• The Motor segment market share increased to 10.8% in FY2025 (10.5% in FY2024). 
• The Company continues to expand distribution into Tier 3 and Tier 4 cities and scale its virtual office network, which stood at 992 on March 31, 2025; individual agents (including POS agents) totalled 1,40,736 on that date.

ICICI Lombard General Insurance Company Limited’s Business Segments

Product mix (GDPI basis, FY2025):

• Motor 40.0% 
• Health, Travel & PA 28.6%
• Fire 11.8%
• Marine 3.3% 
• Crop 5.3%
• Others 11.0%

ICICI Lombard General Insurance Company Limited’s Key Management

• Rakesh Jha – Chairperson
• Sanjeev Mantri – Managing Director & Chief Executive Officer
• Gopal Balachandran – Chief Financial Officer
• Vinod Mahajan – Chief Investment Officer
• Girish Nayak – Chief – Technology and Health Underwriting & Claims
• Girish Sehgal – Chief – Customer Experience, Support and Operations
• Anand Singhi – Chief – Retail and Government
• Sandeep Goradia – Chief – Corporate Solutions Group, International and Bancassurance
• Prasun Sarkar – Appointed Actuary & Chief Actuarial Officer
• Gaurav Arora – Chief – Reinsurance, Underwriting & Claims (Property and Casualty)
• Jerry Jose – Chief – Human Resources
• Vikas Mehra – Company Secretary

Latest Updates on ICICI Lombard General Insurance Company Limited

• Leadership: Rakesh Jha addressed shareholders for the first time as Chairman; Mrs. Lalita D. Gupte ceased to be Chairperson with effect from June 29, 2024.
• Product innovation: Two AI-powered products were introduced in Health and Travel to enable personalised plans; long-term products for Private Car and Two-wheeler were launched during fiscal 2025 following regulatory updates to tariff wordings and operational guidelines in Motor.
• Digital momentum: The “One IL One Digital” initiative delivered 15.8 Per cent growth in customer-facing digital business, forming 6.6 Per cent of overall GDPI in FY2025.
• Rural and government focus: The IL Grameen Sahayak in-house crop survey app was launched; the Company also scaled its Cattle Insurance mobile solution and covered 2,11,519 cattle/livestock in FY2025. It won new livestock insurance business in Gujarat and Madhya Pradesh.
• Network and distribution expansion: Virtual offices reached 992, and the individual agent base rose to 1,40,736 as on March 31, 2025.
• Capital markets: The Company exercised a call option and redeemed listed subordinated non-convertible debentures on April 30, 2024.
• Accounting roadmap: ICICI Lombard is among Phase 1 insurers for Ind AS proforma submissions and has appointed knowledge and technology partners to support convergence, with submissions to IRDAI as per prescribed timelines.