iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

ICICI Bank increases its ownership in ICICI Lombard General Insurance; acquiring a 1.4% stake

28 Feb 2024 , 10:05 AM

On Tuesday, ICICI Bank purchased an additional 1.4% ownership in ICICI Lombard General Insurance Company through the open market for ₹1,164 Crore.

The lender purchased 69,82,852 shares via several block trades on the stock markets for ₹1,666.35 per share.

As of December 31, the private-sector lender owned 47.91% of the insurance giant. In a separate transaction, Bharti Enterprises sold its 1.3% share in ICICI Lombard General Insurance for ₹1,042 Crore. It sold 62,50,900 shares for ₹1,666.35 per share.

In a separate transaction, Fidelity Funds sold 222,668 shares of the general insurance company for ₹1,666.35 each for ₹37 Crore. Encouraged by promoter purchasing, shares of the general insurance giant closed nearly 5% higher on the BSE at ₹1,728.55.

ICICI Lombard General Insurance Company Limited is a general insurance provider in India. It specialises in general insurance, reinsurance, insurance claims management, and investment management.

The firm has a Gross Written Premium (GWP) of ₹217.71 Billion for FY2023. It provides policy insurance and renewal services through its intermediaries and website. It offers assurance goods such as car insurance, health insurance, international travel insurance, overseas student travel insurance, two-wheeler insurance, home insurance, and weather insurance.

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • icici bank
  • ICICI Lombard
  • ICICI Lombard news
  • ICICI Lombard Stock
  • ICICI Lombard Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
12 Apr 2024   |   01:37 PM
Images
12 Apr 2024   |   10:20 AM
Images
12 Apr 2024   |   10:16 AM
Read More

Most Read News

12 Apr 2024   |   08:25 PM
12 Apr 2024   |   08:14 PM
12 Apr 2024   |   08:13 PM
12 Apr 2024   |   08:13 PM
12 Apr 2024   |   08:08 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp