Insight and Intelligence on the London & International Insurance Markets 21 Nov 2017

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India’s ICICI Lombard files for IPO

  • Bernard Goyder 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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