Insight and Intelligence on the London & International Insurance Markets 24 Jul 2017
India’s ICICI Lombard files for IPO
- 17 July 2017
ICICI Lombard, an Indian insurer set up as a joint venture by ICICI Bank and Fairfax Financial Holdings, has filed for an IPO.
The offering will be India's first stock market flotation by a general insurance company.
ICICI Bank, the country's second largest bank, and Toronto-listed Fairfax will together sell down a 19 percent stake in the carrier.
The bank is selling 7.15 percent of the insurer, with Fairfax selling a 12.27 percent stake.
ICICI Bank and Fairfax set up...
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