ICICI Lombard General Insurance Company Ltd - India’s largest private sector non-life insurer – is now the first Indian company to be certified by the British Standard Institution (BSI) for acting in accordance with the revised ISO 31000:2018 Enterprise Risk Management (ERM) Guidelines, that were released in February 2018.
Bhargav Dasgupta, proud MD and CEO of the company, credits this honour to their dedicated effort at adopting the best class risk management practices, and consequently ensuring significant value to the customers on this front.
The insurer has successfully established an inclusive ERM framework that identifies, analyses, mitigates, reports, and reviews organisational risks periodically. This has helped the company increase operational efficiency, strengthen the organisational risk management culture, and accomplish its overall objectives.
ICICI Lombard has received a Certificate of Compliance for successfully completing the ISO 31000:2018 compliance process for ERM framework. The certificate is applicable for a period of 3 years - from April 16, 2018, to April 15, 2021.
The announcement made on May 3 did not have much effect on the stock price of the company. Shares were last trading in BSE at ₹747.55, lower than the previous close of ₹760.8. The total number of shares traded during the day was 4761 shares in over 470 trades.
*Source: Equity Bulls
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