The tie-up combines ICICI Lombard’s technology-driven insurance expertise with Mahindra Finance’s deep community presence in rural markets.
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RIDOFRANZ
ICICI Lombard General Insurance has entered into a strategic partnership with Mahindra & Mahindra Financial Services Ltd to distribute motor insurance products, the companies announced Monday. The collaboration aims to leverage Mahindra Finance’s extensive rural and semi-urban network to expand insurance penetration across India.
Under the arrangement, Mahindra Finance customers will gain access to ICICI Lombard’s complete motor insurance portfolio. The partnership targets financial inclusion by reaching Mahindra Finance’s customer base of over 11 million with integrated insurance solutions.
“Our partnership with Mahindra Finance enables us to continue serving urban customers and reach deeper into semi-urban and rural India through a trusted financial partner,” said Sanjeev Mantri, Managing Director and CEO of ICICI Lombard. The insurer reported a gross written premium of ₹28,258 crore for the year ended March 2025.
Financial security
Raul Rebello, Managing Director and CEO of Mahindra Finance, emphasised the partnership’s role in strengthening financial security for customers across the country. Mahindra Finance operates 1,352 offices covering over 516,000 villages and 8,000 towns.
The tie-up combines ICICI Lombard’s technology-driven insurance expertise with Mahindra Finance’s deep community presence in rural markets. ICICI Lombard ranks as India’s leading private general insurer, having processed over 3.2 million claims and issued more than 37.6 million policies.
Published on August 11, 2025
