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ICICI Lombard surges on partnering with True Balance

ICICI Lombard General Insurance Company is currently trading at Rs. 1173.95, up by 10.50 points or 0.90% from its previous closing of Rs. 1163.45 on the BSE.

The scrip opened at Rs. 1170.00 and has touched a high and low of Rs. 1175.75 and Rs. 1162.05 respectively.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1264.50 on 06-Jun-2019 and a 52 week low of Rs. 703.40 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1224.25 and Rs. 1122.00 respectively. The current market cap of the company is Rs. 52869.08 crore.

The promoters holding in the company stood at 55.86%, while Institutions and Non-Institutions held 24.51% and 19.63% respectively.

True Balance, the fintech app has associated with ICICI Lombard General Insurance Company to provide health insurance at affordable premium to its Tier II and Tier III Indian customers. These group policies availed by True Balance are aimed to promote affordable and accessible health insurance for the consumers of True Balance which they can easily avail through the app.

True Balance started as a balance check application, has now evolved its model to move into financial services, as part of the future plan, True Balance is focused to provide financial services like recharge loan, True Pay later, handset loan etc. The group policies availed by True Balance will cover personal accidents, Hospital Daily Cash Benefit etc.

ICICI Lombard General Insurance Company offers its customers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.

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