MoneyWorks4Me

RBI allows foreign investors to raise stake in ICICI Lombard to 49%

17 Nov 2017 Evaluate

Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in ICICI Lombard General Insurance Company from 24% to 49% of its paid-up capital under the portfolio investment scheme (PIS).

RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.

ICICI Lombard General Insurance Company offers its customers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.


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