ICICI Lombard General Insurance Company Limited, the leading private sector general insurer has announced a strategic and comprehensive partnership with Jammu and Kashmir State Cooperative Bank (SCB) to provide insurance products to its customer base.

Under this arrangement, SCB would make available a wide range of ICICI Lombard General Insurance products and services to its customers through its network of branches across the state.

Commenting on the tie-up, Mr. Sandeep Bakhshi, CEO, ICICI Lombard, said “Our alliance with J&K State Cooperative Bank Limited is in line with our strategy of reaching out to customers across India, particularly in rural areas. We are confident that these growing sectors will provide huge opportunity for penetration of insurance products”.

Mr. Abdul Haque, Chairman, SCB, said, “ To provide comprehensive financial solutions to our customers under a single roof we have partnered with ICICI Lombard, India’s leading insurer. The bancassurance tie-up will help in expanding reach and penetration of insurance products across various locations in J&K”.

ICICI Lombard has a multi-channel distribution strategy to reach out to customers. In addition to its 240 offices spread across 184 locations across India, the company will distribute non-life insurance products through

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About ICICI Lombard General Insurance

ICICI Lombard is a 74:26 joint venture between ICICI Bank Ltd., India's second largest bank with $79 billion in assets and Fairfax Financial Holdings Ltd., a Canada based $26 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management. ICICI Lombard's success is the result of coming together of two of the most trusted names in the financial sector.

The company is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 30,034 million for the 12 months ended March 31, 2007 with a market share of 12% and compounded annual growth rate of over 84% in the last two years.

ICICI Lombard was awarded the NDTV Profit Business Leadership Award 2007, also adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya GlobalConnect Customer Responsiveness Award 2006 and awarded the Gold Shield for "Excellence in Financial Reporting" by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006. It was among the top three General Insurance Companies to be awarded the "General Insurance Company of the Year" at the 10th Asia Insurance Industry Awards.

The company has been assigned an iAAA rating by ICRA (an associate of Moody’s Investors Service) for highest claim paying ability and a fundamentally strong position. The prospect of meeting policyholders’ obligation is the best.

The company has over 5,100 employees in over 240 offices spread across 184 locations. In the financial year ended March 31, 2007, the company issued over 31 lakh policies across India and settled over 6 lakh claims. The company has a claim disposal ratio of 96% (percentage of claims settled against claims reported) as on March 31, 2007.

Lalit Pandey @ 9818806924

Jaya Jindal@9873443463

Sampark Public Relations

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