ICICI Lombard, the leading private sector non-life insurance company in India, has entered into a strategic tie up with Standard Chartered Bank, which will provide the Bank's customers access to the insurer's portfolio of comprehensive protection solutions.
Through this collaboration, ICICI Lombard aims to leverage the branch network of Standard Chartered Bank across India, while encouraging penetration and awareness of its general insurance portfolio in the country. With both institutions believing in the mantra of driving customer innovation through technology, this partnership would prove to be a win-win for both.
Sanjeev Mantri, Executive Director, ICICI Lombard said, "We at ICICI Lombard are delighted to announce this bancassurance tie-up with Standard Chartered Bank, a renowned multinational private bank. We aim to leverage the bank's rich heritage of over 160 years of providing banking services in India and offer our unique general insurance solutions to their customers."
Nitin Singh, Head, Wealth Management India, Standard Chartered Bank said, "The Bank has been at the forefront in offering the best-in-class solutions to its clients, and we are happy to partner with ICICI Lombard as we continue to broaden our offerings through innovative products. Our core focus is on keeping clients at the centre of our proposition, and this tie-up will help us maintain a strong and differentiated general insurance product suite."
Shares of ICICI Lombard General Insurance Company Ltd was last trading in BSE at Rs.1145 as compared to the previous close of Rs. 1190.95. The total number of shares traded during the day was 35483 in over 2511 trades.
The stock hit an intraday high of Rs. 1169.95 and intraday low of 1125.85. The net turnover during the day was Rs. 40486961.