ICICI Lombard faces ₹776.73 million arbitration award

ICICI Lombard General Insurance received an Arbitration Award on July 13, 2026, directing it to pay ₹776.73 million plus interest to an insured party regarding a dispute over claim settlements. The Arbitral Tribunal passed the award at 9:13 p.m., allowing the claim made by M/s. Roadway Solutions Narayanpur Roads Project Pvt. Limited against the insurer. The company disclosed that it is evaluating available legal remedies and will take necessary steps accordingly, though it stated there is currently no material financial impact.

The dispute originates from six insurance policies issued by Bharti AXA General Insurance Company Limited, whose business was acquired by ICICI Lombard in September 2021. The insured had invoked arbitration proceedings in September 2021, disputing the quantum of the claim paid by the erstwhile insurer. The aggregate claim amount under dispute was approximately ₹892.54 million. The policies in question were issued during the period from September 2018 to September 2020.

Arbitration Award Details

The award mandates the payment of the principal amount along with interest accrued at a rate of 7.5% per annum. This interest is calculated from the date of the filing of the Statement of Claim until the date of actual payment. The communication regarding the award was received by the company through its legal counsel.

Particulars	Details
Insured	M/s. Roadway Solutions Narayanpur Roads Project Pvt. Limited
Tribunal	Arbitral Tribunal
Award Amount	₹776.73 million
Interest Rate	7.5% p.a.
Original Dispute Amount	₹892.54 million
Policy Period	September 2018 to September 2020

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the information provided in the annexures is true, correct, and complete to the best of its knowledge. The details have also been made available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.36%	+1.01%	+4.52%	-2.44%	-10.26%	+18.33%

Ved Prakash Chaturvedi ceased to be a Non-executive, Independent Director of icici lombard general insurance on July 12, 2026, following the completion of his second term. The cessation took effect at the end of the day, concluding his tenure on the Board. The Board of Directors placed on record their appreciation for the contributions made by Chaturvedi during his time with the insurer.

The change in directorate was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was submitted to the stock exchanges following the conclusion of the director's term, which began with his re-appointment for a second consecutive five-year period starting July 13, 2021.

Details of Cessation

The cessation was attributed to the completion of the director's second term. The company confirmed that no further re-appointment was detailed in the filing regarding this specific cessation.

Particulars	Details
Name of Director	Mr. Ved Prakash Chaturvedi (DIN:00030839)
Designation	Non-executive, Independent Director
Reason for change	Ceases upon completion of second term
Date of cessation	July 12, 2026