Arbitral Tribunal rules against ICICI Lombard, 776.73 million payout ordered

ICICI Lombard received an arbitration award on July 13, 2026, ordering it to pay 776.73 million rupees to M/s Roadway Solutions Narayanpur Roads Project plus 7.5 percent annual interest from the claim filing date. The dispute relates to 6 insurance policies originally issued by Bharti AXA, whose general insurance business ICICI Lombard acquired in September 2021. The original claim amount was 892.54 million rupees. The company states there is no material financial impact as of now and is evaluating available legal remedies to challenge the award.