ICICI Bank secures IRDAI nod to boost ICICI Lombard stake by 4%

ICICI Bank got IRDAI approval to raise shareholding in ICICI Lombard General Insurance

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26 Aug, 2025 12:21

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ICICI Bank has received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to increase its ownership stake in ICICI Lombard General Insurance by an additional 4 percent. The bank can increase the stake in the insurance firm through one or more tranches by August 31, 2024. ICICI Bank share price fell 0.5 percent on September 4, amid a flat benchmark market, and was trading at Rs 964 at 10.10 am. ICICI Lombard General Insurance shares jumped as much as 4 percent in the morning trade, before paring gains to trade up 1 percent at Rs 1,354.

ICICI Bank informed the exchanges in May that its board had approved a proposal to increase its stake in the insurance company in multiple tranches. According to the shareholding pattern of ICICI Lombard General Insurance, the Bank had a 48.01 percent stake in the company as of June 2023. The additional stake buying will make ICICI Lombard a subsidiary of the bank.

In 2021, the bank reduced its stake in the insurance company from 51.87 percent to 48.08 percent after ICICI Lombard acquired Bharti AXA General Insurance, and allotted 35,756,194 equity shares to the existing shareholders of Bharti AXA.

RBI had approved the bank’s shareholding increasing proposal on August 4, 2023.

ICICI Lombard General Insurance Company was established in 2002 as a JV between ICICI Bank and Fairfax Financial Holdings. Fairfax exited the company in 2019. Shares of ICICI Bank have risen 11.51 percent in the last 6 months. While ICICI Lombard general insurance has given a return of 23.56 percent in the same period.

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