Latest news with #ICICILombard
Time of India
a day ago
- Business
- Time of India
ICICI Lombard Moves Disaster Recovery to New AWS Centre in Hyderabad
Mumbai: ICICI Lombard has shifted its disaster recovery (DR) operations from Amazon Web Services' (AWS) Mumbai region to the Hyderabad region, completing a major upgrade of its business continuity infrastructure. The fully automated, cloud-native setup—developed in collaboration with AWS—covers all of the insurer's business-critical applications and ensures rapid failover in the event of a disruption. The transition, aimed at improving service reliability and response time, was carried out with end-to-end automation and real-time validation, involving minimal manual intervention. According to Girish Nayak, chief – technology, health UW and claims at ICICI Lombard, the company successfully executed a full-site DR drill, seamlessly transitioning all business applications to the secondary cloud region. 'This marks a first-of-its-kind initiative in the Indian insurance sector,' he said, adding that the move validated the company's readiness to maintain uninterrupted operations during unforeseen events. The upgraded system uses native AWS services such as Elastic Disaster Recovery (EDR), AWS Step Functions and infrastructure-as-code tools. It supports continuous replication of application and database servers between the primary site in Mumbai and the DR site in Hyderabad, with seamless environment switching enabled via domain-based routing. Kiran Jagannath, head – FSI and conglomerates, AWS India and South Asia, said the collaboration helps secure ICICI Lombard's mission-critical workloads while enabling faster recovery, greater reliability and better data protection. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
6 days ago
- Business
- Yahoo
FM Global to set up innovation centre in Bengaluru, India
FM Global, a US-based commercial property insurer, plans to open its largest innovation centre outside of the US in Bengaluru, India, along with a sales office in Mumbai, during the second half of this year. With its key operations located in Bengaluru, the upcoming innovation centre is anticipated to commence in October 2025. This centre will enhance support for its Asia-Pacific regional operations and strengthen global capabilities in technology, business operations, and analytics. In India, FM Global functions as a reinsurer, collaborating with primary insurers like HDFC Ergo and ICICI Lombard. The new facilities will expand the company's presence in India. Srinivasan Krishnamurthy, senior vice-president, FM India, said, 'We are significantly expanding and doubling down on our investment in India along multiple dimensions. We are building on our existing footprint in Bengaluru. After evaluating different locations, it was clear that Bengaluru's innovation ecosystem is the most vibrant. There is also a broad availability of STEM talent here.' Krishnamurthy added, 'A client experience centre will be co-located with our Bengaluru centre through which we intend to showcase to prospective employees and clients in India and the region, about how they can benefit from our loss-prevention expertise.' The process of hiring for technology and business operations roles has been initiated, with positions such as product owners, data engineers, platform engineers, software engineers, and business operations specialists already being filled. The organisation reported worldwide revenues of approximately $11b in the previous year, and it maintains a presence in roughly 149 countries. It has 50 offices across the globe and employs a total of 6,000 individuals, including 2,000 engineers. "FM Global to set up innovation centre in Bengaluru, India" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
NDTV
16-07-2025
- Automotive
- NDTV
Insurers In India Race To Tie Up With Tesla Amid EV Boom
New Delhi: Elon Musk's electric vehicle (EV) giant has come to India, but a bigger question that people are asking is who will be the insurance provider for the American auto maker? Acko has been named as Tesla's preferred insurer in India, sources said. Bajaj Allianz and ICICI Lombard, however, are also hot in the race to get into tie-ups with Tesla for insurance for their India vehicles, people with direct knowledge of the matter said. The talks are in early stages and no terms have been finalised yet, they said, adding the insurers are pitching for non-exclusive tie-ups with Tesla. The decision will depend on Tesla's insurance department working out of the company's Hong Kong or Singapore offices, sources in the EV maker said. Tesla will need to get a motor insurance service provider licence from the Insurance Regulatory and Development Authority of India (IRDAI), which will take some months, sources said. It is only after Tesla gets the licence that it will be able to sign proper tie-ups with insurance firms, they said. Comments from Bajaj Allianz and ICICI Lombard are awaited. Tesla made its much-awaited entry into India on Tuesday with the launch of its Model Y at a starting price of Rs 59.89 lakh. The company's first experience centre is in Mumbai. The Model Y will be imported to India as completely built units (CBU) from its manufacturing facility in China's Shanghai. The mid-sized electric SUV Model Y will be offered in India in two variants -- rear wheel drive with base price at Rs 59.89 lakh, and long-range rear wheel drive at a base price of Rs 67.89 lakh. The deliveries are likely to begin in the third and fourth quarter of 2025, respectively, for the two variants. Initially, registration and delivery will start in Delhi, Mumbai, and Gurugram, the company said, adding that through its Tesla Design Studio, customers will be able to customise their Model Y exterior, interior, and even its features.
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Business Standard
16-07-2025
- Business
- Business Standard
Sensex, Nifty erase early losses; Analysts eye US-India trade cues
At 11:50 AM, BSE Sensex was trading at 82,469.36, down by over 100 points or 0.12 per cent. Whereas, Nifty was just trading below 25,200 level, down by over 25 points or 0.10 per cent. Harshita Dudeja New Delhi Stock market today: Benchmark equity indices erased early losses and continued to trade range-bound after a volatile start to the week. While markets did gain momentum in the previous trading session, D-Street was back in the red on Wednesday. At 11:50 AM, BSE Sensex was trading at 82,469.36, down by over 100 points or 0.12 per cent. Whereas, Nifty was just trading below 25,200 level, down by over 25 points or 0.10 per cent. Broader markets also signalled mixed trends. The Nifty Midcap 100 was just marginally up, quoting 59,617. Meanwhile, the Nifty smallcap 100 remained flat, trading at 19,115 level. Sectorally, Nifty auto was among the worst-performing indices, trading at 23,773, down by 0.55 per cent. Nifty metal followed suit and was down by 0.46 per cent, quoting 9,369. Nifty Media, however, was among the best-performing sectoral indices, up by 1.29 per cent and trading at 1,758. Nifty IT also showcased some strength, experiencing a surge of 0.51 per cent, quoting 37,616. Top gainers & losers From the Sensex pack, Tech Mahindra, Adani Ports, Infosys, Asian Paints and SBI were among the top gainers. On the other hand, Eternal (Zomato), Sun Pharma, Mahindra and Mahindra, Tata Steel and Bajaj Finserv were among the top losers. Shares of HDB Financial Services hit a record low of ₹809.05 after the company reported a drop in profit levels to ₹569 crore in Q1FY25 from ₹582 crore recorded in the corresponding quarter of the previous fiscal. Big names in the insurance industry, including HDFC Life, ICICI Lombard and ICICI Prudential, remained in focus after announcing results for the first quarter of the financial year 2025-2026 (Q1FY26). At 12:25 PM, HDFC Life shares were trading at 760.50, marginally up by 0.48 per cent on the National Stock Exchange. Meanwhile, ICICI Lombard shares were trading at 2,025.90, up by 1.16 per cent. Shares of Dixon Technologies also gained heightened investor attention after the company announced another joint venture (JV), pushing share prices above 3 per cent. 'Wait and watch' mode Uncertainty on the macroeconomic front continues to weigh on the markets, with analysts seeing limited chances of a breakout in the near term. While surprises on the earnings front or developments in trade tariffs could stir activity, investors largely remain in wait-and-watch mode. As for now, the overall sentiment continues to be cautiously optimistic. "Given the current environment marked by uncertainty and elevated volatility, traders are advised to adopt a cautious 'wait and watch' approach, particularly with leveraged positions. Booking partial profits on rallies and employing tight trailing stop-losses is recommended," said Aakash Shah, technical research analyst at Choice Equity Broking. "Fresh long positions can be considered only if Nifty sustains above the 25,250 mark," he added.
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Business Standard
16-07-2025
- Business
- Business Standard
What to do with ICICI Lombard shares after Q1 results? Stock rises 2%
ICICI Lombard General Insurance shares rose 2 per cent on Wednesday, registering an intraday high at ₹2,044 per share on the National Stock Exchange (NSE). At 9:20 AM, the ICICI Lombard share price was trading 0.76 per cent higher at ₹2,018 per share on the NSE. In comparison, the NSE Nifty50 was down 0.17 per cent at 25,154.8. The company's market capitalisation stood at ₹1,00,231.37 crore. The 52-week high of the stock was at ₹2,301.9 per share and the 52-week low of the stock was at ₹1,613.7 per share. CATCH STOCK MARKET LATEST UPDATES TODAY LIVE ICICI Lombard Q1FY26 results In the first quarter ended on June 30, 2025, ICICI Lombard's net profit rose 29 per cent year-on-year (Y-o-Y) to ₹747.08 crore, up from ₹580.37 crore in Q1FY25. Its Gross Direct Premium Income (GDPI) stood at ₹7,735 crore in Q1FY26, a 0.6 per cent increase compared to ₹7,688 crore in Q1FY25. Excluding the impact of the 1/N accounting norm, the company's GDPI grew by 4.8 per cent in Q1FY26. The Insurance Regulatory and Development Authority of India (IRDAI) changed the format for reporting premium figures, requiring non-life insurance companies to report long-term premiums based on the 1/N formula, where N is the number of days the policy is active. These norms came into effect on October 1, 2024. ICICI Lombard Q1 results analysis: Emkay Financial Services | Add | Target: ₹2,100 According to the brokerage, ICICI Lombard's Q1 results were a mixed bag, with the combined ratio at 102.9 per cent, up 0.6 point year-on-year (Y-o-Y), higher than Emkay's estimate of 102.3 per cent/101.2 per cent, while profit after tax (PAT) was significantly higher than brokerage's estimate. To bake in the Q1 developments, Emkay reduced its Gross Written Premium (GWP) estimate by 5 per cent, while increasing FY26E Combined Ratio (CoR) by 80 basis points (bps) and marginally raising the FY27-28E CoR. ALSO READ | ICICI Lombard Q1FY26 analysis: Motilal Oswal | Buy | Target: ₹2,400 ICICI Lombard's gross written premium was up 2 per cent Y-o-Y in Q1FY26 at ₹ 8,100 crore, in line with the brokerage's estimate. However, the increase in expense ratios resulted in a 140 bps miss in the combined ratio at 102.9 per cent against 102.5 per cent in Q1FY25. Excluding the 1/n impact, the combined ratio was at 102.2 per cent in Q1FY26. Its PAT grew 29 per cent Y-o-Y which was above Motilal Oswal's estimates of 25 per cent due to strong growth in investment income. The brokerage has retained its FY26/FY27 net earned premium (NEP) estimates but increased FY26 earnings estimates by 3 per cent, considering robust investment gains in Q1FY26. About ICICI Lombard ICICI Lombard is a private general insurance company. The company offers a range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance.
