ICICI Lombard’s capitalisation remains healthy, much higher than the minimum regulatory requirement of 150 per cent
The Insurance Regulatory & Development Authority of India (IRDAI) has accepted the registration application for setting up a general insurance company in India, filed by Edelweiss General Insurance Company, a wholly-owned subsidiary, it said in a regulatory filing.
"We are still working on the proposed scheme and fine-tuning the premium. The new scheme may be announced by the PM this weekend (at the I-Day speech)," a top official of a state-owned general insurance company told PTI.
Leading private sector general insurance company ICICI Lombard is targeting a growth of 11 percent in premium income at Rs 6,000 crore this financial year, an official of the company said.
It's important that we make an underwriting profit for the industry to be healthy, says Bhargav Dasgupta, MD & CEO ICICI Lombard.