ICICI Lombard Releases BRSR Report; Renewable Energy Usage Rises to 38%

MUMBAI | June 6, 2025: ICICI Lombard General Insurance Company Ltd (NSE: ICICIGI, BSE: 540716), one of India’s largest private sector general insurers, has released its Business Responsibility and Sustainability Report (BRSR) for FY2025. The reports highlight strong environmental, social, and governance (ESG) integration into core business operations.

According to the reports, the company significantly reduced its Scope 2 emissions to 5,875.87 tCO₂e in FY25, down from 6,958.17 tCO₂e in FY24, driven by a sharp increase in renewable energy usage. For the company’s operations, green power now accounts for 37.1% of total energy consumption, up from 26.1% the previous year.

Total energy consumption increased to 48,164.73 gigajoules. However, emission intensity decreased due to operational efficiencies and the adoption of clean energy. Furthermore, total water consumption increased to 1.86 lakh kiloliters, reflecting network expansion, but intensity levels remained unchanged.

ICICI Lombard’s Workforce Diversity and Digital Health Access

ICICI Lombard reported that 100% of its 16,695 employees were covered under health and accident insurance. The representation of women in the workforce improved to 26% in FY25 from 24% in FY24. For the future, the insurer aims to achieve 27% female participation by FY26.

Its digital health platform, IL TakeCare App, has clocked 14.9 million downloads, enabling services such as 24/7 teleconsultation, wellness tracking, and mental health support.

In terms of customer service, Net Promoter Score (NPS) improved to 68, with average claim settlement times reducing to 3 days for health and 5 days for motor segments.

Zero Cases of Corruption or Data Breaches

ICICI Lombard maintained a zero-incident record on data breaches, corruption, and regulatory penalties in FY25. The company continues to operate under the governance framework, including anti-bribery, whistleblower, and conflict of interest policies. It also resolved 100% of customer grievances within 15 days.

What Did The Management Say About The Achievement?

Sanjeev Mantri, MD & CEO, said:

“We are not only managing emerging risks like climate change and data privacy, but proactively creating ESG-aligned insurance products. Our leadership in electric vehicle insurance, inclusive rural health schemes, and green investments is a testament to our long-term vision.”

Effect On The Share Price

At around 10:15 AM on June 6th, the shares of ICICI Lombard were trading at ₹1,891.30, up by 0.73% or ₹13.70. It remains to be seen at what price the shares will end after today’s market close.

Future Outlook For ICICI Lombard

As of March 31, 2025, the company held a 23.9% market share in private electric cars and 32.2% in electric two-wheelers. The company extended insurance coverage to 93.9 million lives, including 21 million in the social sector. The company has set a forward target of 45% renewable energy usage by FY2027.

ICICI Lombard is strengthening its ESG-linked investments, expanding green insurance offerings, and improving supplier sustainability through training and audits. It also continues to support financial inclusion through government-backed schemes, such as PMFBY, and targeted CSR efforts, which reach over 1 million rural citizens.

About ICICI Lombard

ICICI Lombard General Insurance Company Ltd, incorporated in 2000, is a leading private-sector non-life insurer in India. With a presence in 37 states and union territories, and 328 branches and 992 virtual offices, the company offers a comprehensive suite of insurance solutions across health, motor, travel, and corporate lines.

Paid-up Capital: ₹4.96 billion
Net Worth: ₹143.03 billion
CSR Spend in FY25: ₹404.2 million
Assurance Provider: PKF Sridhar & Santhanam LLP

REF: https://nsearchives.nseindia.com/corporate/ICICIGI_06062025003736_SE.pdf

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