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Our Bureau

New Delhi, May 23

ICICI Lombard General Insurance Company Ltd has been assigned IAAA rating by ICRA, an associate of Moody's Investors Service, indicating highest claims paying ability. According to a statement, the company said that this is the first rating assigned to a private sector general insurance company in India. The rating takes into consideration ICICI Lombard's strong parentage, the high growth prospects for general insurance business in the country, strong capitalisation level, its prudent underwriting and reinsurance strategy, and its satisfactory underwriting performance. ICICI Lombard's competitive cost structure and prudent underwriting practices places it in a favourable position to compete in the anticipated de-tariffed environment.

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