ICICI Lombard General Insurance Company Limited has informed the Exchange about Credit Rating- Revision

Global rating agency AM Best has revised its outlook on ICICI Lombard to positive from stable while affirming its Financial Strength Rating of B++ (Good) and Long-Term Issuer Credit Rating of bbb+ (Good). The India National Scale Rating of aaa.IN (Exceptional) was also affirmed with a stable outlook. AM Best cited very strong balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management as the basis for the ratings. The positive outlook reflects expectations that balance sheet fundamentals will continue to strengthen over the near to medium term, supported by robust capital generation. ICICI Lombard is the second-largest non-life insurer in India with 8.7% market share and a five-year average return on equity of 17.3%.