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ICICI Lombard enters into a strategic partnership with Policybazaar

About the partnership

ICICI Lombard, a private general insurance company and Policybazaar, India’s biggest insurance platform have entered into a partnership. The strategic partnership will bring together the comprehensive product portfolio of ICICI Lombard and wide reach of Policybazaar, promising accessible insurance solutions for Indian consumers.

The collaboration encompasses access to nearly 10 million customers with a wide range of insurance products, including motor insurance, health insurance, travel insurance, home insurance, and business insurance. The partnership entails inclusion across multiple business lines of the Policybazaar platform, catering to retail audiences, PB for Business for corporates and PB Partners for channel partners.

Read: Steps to Select the Best Health Insurance Plan

The partnership will significantly enhance insurance distribution ensuring comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform.

Company profile

Established in 2001, ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels.

Stock price movement

Today, the stock of ICICI Lombard opened at Rs 1722.30 and has touched a high and low of Rs 1730.00 and Rs 1678.05 respectively. The BSE group ‘A’ stock of face value Rs 10 has a 52-week high and low of Rs 1,739.95 and Rs 1,056.00, respectively.  Last one week high and low of the scrip stood at Rs 1735.15 and Rs 1635.00 respectively. The current market cap of the company is Rs 83,815.62 crore.

The promoters holding in the company stood at 47.91%, while Institutions and Non-Institutions held 41.00% and 11.09% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.
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