PREM
WATSA OWNED FAIRFAX SOLD 12.18% STAKE IN ICICI LOMBARD GENERAL INSURANCE
ICICI
LOMABRD GENERAL INSURANCE COMPANY LIMITED, incorporated in Year 2000, is a Joint Venture between ICICI Bank Limited
and Fairfax Financial Holdings Limited, a Canada based diversified
financial services company. ICICI Lombard
provides all types of insurance services to customers across the country and
beyond with its 257 no. of branches
as on March 2016.
Fairfax Owned by
Prem Watsan sold 12.18% stake in ICICI Lombard General Insurance Company. Fairfax
sold stake to three parties’ i.e Red Bloom Investment Ltd – 9%, Tamarind
Capital Pte. Ltd – 1.59% and IIFL Special Opportunity Fund – 1.59%. The
Stake sale is subject to government and regulatory approval.
This Share
Transfer agreement shall bring down the shareholding of Fairfax to 22.13 %
& ICICI Bank shall hold 63.31% holding. Valuation of the company has
almost increased by 20% since 2016 when Fairfax had bought 9% stake from ICICI
Bank on FDI approval at valuation of 17000+ crs and today Fairfax is selling
12.18% stake valuing the company at 20,300 crs.
RESULT HIGHLIGHTS FOR YEAR ENDED MARCH 2017
PARTICULAR
|
MARCH 2017
|
MARCH 2016
|
NET PREMIUM
|
6163.61
|
4821.62
|
TOTAL INCOME
|
1018.49
|
722.09
|
PAT
|
701.88
|
507
|
EPS
|
15.66
|
11.35
|
RESERVES
|
3271.14
|
2728.11
|
INVESTMENT
|
15078
|
11562
|
RONW (%)
|
19%
|
16%
|
NET EARNING (%)
|
11%
|
11%
|
SOLVENCY RATIO
|
2.10X
|
1.82X
|
(Read – Audited Result Year 2017)
For
buying and selling any unquoted / unlisted / delisted or suspended shares in
physical or demat you can reach us at Contact No.91+ 09215709100 or Email us on
mittalmanish2003@gmail.com
No comments:
Post a Comment