ICICI Lombard General Insurance has launched 25 new products and innovations across its core business lines, including health, motor, home, travel, and commercial insurance.
The rollout coincides with the company’s 25th anniversary and represents a strategic push to diversify its offering and capture market share in a competitive landscape.
The insurer reported a 46% year-on-year drop in net profit, driven by higher claims ratios and increased competition in the general insurance segment.
Managing Director and CEO Sanjeev Mantri led the announcement, positioning the new suite as a response to evolving customer needs and regulatory shifts in the Indian insurance sector.
The product launch comes at a critical juncture for the insurer, which has faced significant headwinds in recent quarters.
ICICI Lombard shares tumbled nearly 15% to ₹1,544.40 on the BSE, marking a fresh 52-week low as investors reacted to a severe deterioration in first-quarter profitability.
The insurer reported a 46% year-on-year drop in net profit, driven by higher claims ratios and increased competition in the general insurance segment.