ICICI Lombard General Insurance Company Limited Announces Resignation of Vishal Mahadevia as Non-Executive, Independent Director on the Board and from Committees
July 17, 2019 at 05:56 am EDT
Share
Pursuant to Section 48A of Insurance Act, 1938, ICICI Lombard General Insurance Company Limited had sought an approval from Insurance Regulatory and Development Authority of India ("IRDAI") for continuation of appointment of Mr. Vishal Mahadevia, a Non-executive, Independent Director of the company, as common director on the Board of the company and as a Director in an insurance intermediary of the company. The IRDAI vide its letter dated May 2, 2019 has advised Mr. Vishal Mahadevia to retain directorship either of the company or of the insurance intermediary. The company has received a letter from Mr. Vishal Mahadevia wherein he has communicated his option to continue as a Director on the Board of IDFC First Bank Limited, being an insurance intermediary of the Company and has extended his resignation as a Non-executive, Independent Director on the Board of the Company and from Committees on which he serve, with effect from close of business on July 16, 2019.
ICICI Lombard General Insurance Company Limited is an India-based general insurance company. The Company offers a comprehensive and diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. Its segments include Fire, Marine, Health including Personal Accident, Miscellaneous, Crop Insurance and Motor. Its Health including Personal Accident segment includes health retail, health group corporate and health government business. Its Miscellaneous segment includes miscellaneous retail and miscellaneous group corporate business. Its motor insurance includes car insurance, bike insurance and motor floater. Its health insurance includes Health AdvantEdge, MaxProtect, health booster, personal protect, Arogya Sanjeevani Policy, Saral Suraksha Bima and others. Its other insurances include crop insurance, NRI insurance, cyber insurance, ICICI Bharat Griha Raksha Policy and others.
ICICI Lombard General Insurance Company Limited Announces Resignation of Vishal Mahadevia as Non-Executive, Independent Director on the Board and from Committees