ICICI Lombard General Insurance Company Limited has informed the Exchange regarding Appointment of Mr. Shyam Srinivasan as Additional Non- Executive Independent Director of the company w.e.f. April 15, 2026 to April 14, 2031, subject to approval of theMembers of the Company.
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ICICI Lombard reported strong FY2026 results with gross premiums of ₹30,618 crore (up 8.4% YoY) and profit after tax of ₹2,772 crore (up 10.5% YoY). The Board recommended a final dividend of ₹7 per share (70% payout). Mr. Shyam Srinivasan, former MD & CEO of Federal Bank with 30+ years of banking experience, was appointed as Additional Non-Executive Independent Director for 5 years from April 2026 to April 2031, pending shareholder approval. B S R & Co. LLP was appointed as new Joint Statutory Auditor replacing PKF Sridhar & Santhanam LLP. The company also approved granting up to 1.7 million stock options and 1.05 million stock units to eligible employees.
Strong financial performance and dividend declaration are positive for shareholders. The appointment of Mr. Shyam Srinivasan, a highly experienced banking leader, should strengthen board oversight and potentially bring valuable industry insights to the general insurer. Shareholder approval needed for both director appointment and dividend at the ensuing AGM.