Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin

ICICI Lombard in Focus After IRDAI Waives Lock-In Period

Published On Sep 05, 2019 12:00 AM By Sakshi Aggarwal

The General Insurance Company ICICI Lombard dropped as IRDAI (Insurance Regulatory and Development Authority of India) waived off the conditions of lock-in period on the equity shares held by FAL Corporation, an affiliate of Fairfax Financial Holdings. IRDAI with reference to its letter dated 30th March 2016 had forced a lock-in period of 5 years on 4.02 crore shares held by Fairfax. It implied till 29th March 2021 9% of then issued and paid-up capital of the organisation held by Fairfax can’t be exchanged.

In the recent announcement, IRDAI vide its letter dated 3rd September 2019 communicated to ICICI Lombard General Insurance Company that the conditions of lock-in cannot be insisted upon. The announcement came after market hours in lieu of request received from Fairfax and as a matter of exception.

ICICI Lombard General Insurance is one of the top general insurance companies in the private sector. It deals in general insurance, manages insurance claims, offers investment management services, and reinsurance services.

Also Read

ICICI Lombard Utilises Artificial Intelligence to Detect Frauds in Insurance

Everything You Need to Know About Health Insurance

Health Insurance Coverage Calculator

Who do you want to insured ?

  • Individual
  • Couple
  • Family
  • Parents

Age of eldest insured member ?

Where do you live ?

Disclaimer : Actual Coverage might vary basis your location, age and number of members
Must BuyMust Buy

Why to Buy Health Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 75,000*
  • Claim support everyday 10AM-7PM
  • 45 Lacs+ happy customers