ICICI Lombard General Insurance Company has informed that the Board of Directors of the Company at its Meeting held today, on Saturday, February 24, 2024, based on the recommendation of the Board Nomination and Remuneration Committee has approved the following: Appointment of Anand Singhi, Chief - Retail & Government, as Key Management Person (KMP) of the Company with effect from February 24, 2024 in accordance with the ‘Guidelines for Corporate Governance for Insurers in India’ issued by Insurance Regulatory and Development Authority of India (IRDAI CG Guidelines) and Senior Management Personnel (SMP) of the Company; Grant of 100,000 stock options under the ICICI Lombard-Employees Stock Option Scheme-2005. Each of the stock option entitles the holder to apply for one equity share of the Company of face value of ? 10 each. The following are the terms of the Options granted: Grant Date : February 24, 2024;Grant Price: Rs.1,639.25 per share (closing price on the recognized stock exchange having higher trading volume on the trading date immediately prior to the date of meeting); Vesting period: 3 years, in the ratio of 30%-30%-40% starting one year from the date of the grant of the stock options.
The above information is a part of company’s filings submitted to BSE.
