Mahindra Finance and ICICI Lombard enter partnership for motor insurance distribution

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), one of India's leading non-banking finance companies, has joined hands with ICICI Lombard General Insurance (ICICI Lombard), one of India's leading private general insurers, to distribute motor insurance products to its customers. This collaboration aims to provide accessible, tailored insurance solutions by combining Mahindra Finance's extensive rural and semi-urban reach with ICICI Lombard's expertise in motor insurance.

Through this association, Mahindra Finance customers will gain access to a wide portfolio of ICICI Lombard's motor insurance offerings, ensuring that protection is embedded seamlessly into their larger financial journey. The tie-up will also help drive financial inclusion by reaching Mahindra Finance's wider customer base with timely and relevant insurance solutions.

Raul Rebello - Managing Director & CEO, Mahindra Finance, said, "At Mahindra Finance, we are committed to delivering accessible and meaningful financial solutions to our customers, by combining ICICI Lombard's insurance expertise with Mahindra Finance's extensive reach, we aim to strengthen financial security and resilience for millions of customers across the country. This partnership represents another step in our journey to empower customers with financial security and reaffirm our commitment to being a trusted and responsible financial solutions partner to Emerging India."

Sanjeev Mantri - Managing Director & CEO, ICICI Lombard, said, "At ICICI Lombard, we have always believed that insurance must be built around the customers - accessible, relevant and integrated into their everyday financial journey. Our multi-product, multi-channel strategy is a reflection of this belief. Our partnership with Mahindra Finance is an extension of this approach, enabling us to continue to serve the urban customers and reach deeper into semi-urban and rural India through a trusted and respected financial partner. Together, we aim to provide individuals and businesses with the protection they need for their health, motor, assets and livelihoods, in a timely and seamless manner. It's a step forward in our shared commitment to driving financial inclusion and building a more resilient India."

By leveraging the strengths of Mahindra Finance's deep-rooted community presence and ICICI Lombard's customer-centric, tech-driven approach, the partnership is set to expand insurance penetration, enhance customer experience, and build financial resilience across the country.

Shares of ICICI Lombard General Insurance Company Limited was last trading in BSE at Rs. 1900.30 as compared to the previous close of Rs. 1892.60. The total number of shares traded during the day was 5092 in over 804 trades.

The stock hit an intraday high of Rs. 1907.35 and intraday low of 1880.85. The net turnover during the day was Rs. 9656318.00.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 255.05 as compared to the previous close of Rs. 252.65. The total number of shares traded during the day was 44871 in over 996 trades.

The stock hit an intraday high of Rs. 255.40 and intraday low of 251.15. The net turnover during the day was Rs. 11352363.00.

Source : Equity Bulls

Keywords

ICICILombardGeneralInsuranceCompany INE765G01017 Partnership MotorInsurance Distribution MahindraFinance MahindraandMahindraFinancialServices INE774D01024