Document Overview

This is the Business Responsibility and Sustainability Report (BRSR) for FY2026 (April 1, 2025 to March 31, 2026), prepared pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report is available on the company website and has been submitted to BSE and NSE.

KMP / Board / Auditor Changes

Not Specified in this document.

Dividend Declaration or Non-Declaration

Not Specified in this document.

Board Meeting Outcomes

Not Specified in this document.

Financial Results

Not Specified in this document. The report focuses on ESG metrics rather than financial performance.

Auditor’s Report

The report includes an Independent Practitioner's Reasonable Assurance Statement provided by PKF Sridhar & Santhanam LLP for BRSR Core Attributes for FY2026.

Disinvestment / Strategic Actions

Not Specified in this document.

Other Operational / Legal / Strategic Disclosures

General Company Information

  • Corporate Address: Same as registered office
  • IRDA Reg. No.: 115
  • Paid-up Capital: ₹4.98 billion (as of March 31, 2026)
  • Reporting Boundary: Standalone basis
  • Contact Person: Jidnyasa Ghag (Chief Manager), +91-22-61961100, jidnyasa.ghag@icicilombard.com

Business Activities

  • Main Activity: Financial and Insurance services (Non-life Insurance and Reinsurance activities)
  • % of Turnover: 100.0%
  • NIC Code: 65120 (Non-Life Insurance)

Operations

  • National Offices: 341 branches
  • International: IFSC Insurance Office at GIFT City for international business
  • Markets Served: 37 locations (28 states + 9 union territories)
  • Customer Types: Corporate Customers, Government & Rural Business, Retail Customers

Employees

  • Total Employees: 16,447 (15,008 permanent + 1,439 other than permanent)
  • Gender Distribution: 70.3% male (11,563), 29.7% female (4,884)
  • Differently Abled Employees: 10 permanent employees (6 male, 4 female)
  • Board Diversity: 8 directors, 1 female (12.5%)
  • Key Managerial Personnel: 3, none female
  • Turnover Rates:
  • Overall: 32.9% (29.0% male, 43.4% female)
  • Excluding Call Center: 27.9% (26.6% male, 32.3% female)
  • 3-year trend shows consistent turnover patterns

Holding Company

  • ICICI Bank Limited: Holding Company with 51.26% shareholding
  • Participation in Business Responsibility initiatives: No

CSR Details

  • CSR Applicable: Yes
  • Turnover (Gross Written Premium): ₹306.18 billion
  • Net Worth: ₹168.07 billion
  • CSR Spend for FY2026: ₹516.7 million

Grievance Redressal (FY2026)

  • Shareholders: 1 complaint received through SEBI Scores, pending resolution
  • Sexual Harassment: 23 complaints filed, 1 pending resolution
  • Customers: 11,253 complaints filed, 201 pending resolution
  • Anti-Fraud: 311 complaints filed, 41 pending investigation
  • Whistleblower: 21 complaints filed, 1 pending investigation

Material Responsible Business Conduct Issues

17 material issues identified with risk/opportunity assessment:

1. Promoting Health and Well-being (Opportunity)

2. Innovation and Digitisation (Opportunity)

3. Diversity and Inclusion (Opportunity)

4. Human Capital Development (Opportunity)

5. Economic Performance (Opportunity)

6. Responsible Investment (Opportunity)

7. Financial Inclusion (Opportunity)

8. ESG Products and Services (Opportunity)

9. Climate Change Mitigation (Risk)

10. Community Development (Opportunity)

11. Customer Relationship Management (Risk)

12. Talent Attraction and Retention (Risk)

13. Data Privacy and Security (Risk)

14. Fair Workplace (Risk)

15. Operational Eco-Efficiency (Risk)

16. Risk Management (Risk)

17. Business Ethics (Risk)

Management and Process Disclosures

  • Policies: Comprehensive policies covering all NGRBC Principles except Principle 7
  • Board Approval: All policies approved by Board
  • Value Chain Extension: Policies extend to value chain partners
  • Standards Adopted: GRI Standards, TCFD, ISO 31000:2018, UN SDGs, ISO 45001:2018, GHG Protocol, ISO 14001:2015, ISO 27001:2013, ISO 27017:2022
  • Targets: Increase renewable electricity consumption to 45.0% by FY2027
  • Performance: Achieved 27.6% female workforce (exceeded 27.0% target), 41.2% renewable electricity consumption (vs 38.0% in FY2025)

Principle-wise Performance Disclosure

Principle 1 (Ethics, Transparency, Accountability)
  • Training programs conducted for Board (8), KMP (2), and employees (64)
  • No fines/penalties in proceedings with regulators
  • Anti-corruption policy in place with whistleblower mechanism
  • No disciplinary actions for bribery/corruption
  • Accounts payable days: 68 days (FY2026) vs 77 days (FY2025)
  • RPT in purchases: 2.0%, RPT in sales: 1.2%
Principle 2 (Sustainable Goods/Services)
  • Capex investments in environmental improvements: 19.6% of total capex
  • Sustainable sourcing: 0.3% of inputs
  • No product reclamation processes (not applicable)
  • No Extended Producer Responsibility applicable
Principle 3 (Employee Well-being)
  • 100% coverage for health insurance, accident insurance for all employees
  • Retirement benefits: 100% coverage for PF, Gratuity, ESI coverage 2.2%
  • Workspaces accessible to differently abled employees
  • Equal opportunity policy in place
  • Comprehensive grievance redressal mechanisms
  • ISO 45001:2018 implementation at corporate office
  • No safety incidents, fatalities, or lost time injuries
  • Well-being spending: 0.2% of total revenue
Principle 4 (Stakeholder Responsiveness)
  • Key stakeholders identified: Customers, Shareholders & Investors, Government & Regulators, KMP & Employees, Channel Partners & Vendors, Society/Communities
  • Regular engagement through multiple channels
  • Vulnerable/marginalized groups identified and engaged
Principle 5 (Human Rights)
  • 90.0% employees trained on human rights issues
  • 100% permanent employees paid above minimum wage
  • Median remuneration: MD & CEO ₹44.95M, Independent Directors ₹4.15M, KMP ₹18.63M, Employees ₹0.66M (male), ₹0.54M (female)
  • Female wages as % of total: 21.5%
  • Human rights focal point established
  • 23 POSH complaints, 15 upheld
  • Human rights requirements in business agreements
Principle 6 (Environmental Protection)
  • Energy Consumption: 50,540.16 GJ total (20,272.07 GJ renewable, 30,268.10 GJ non-renewable)
  • Energy Intensity: 0.17 GJ/₹M turnover, 3.07 GJ/headcount
  • Water Consumption: 186,139.17 kl, intensity 0.61 kl/₹M turnover
  • GHG Emissions:
  • Scope 1: 246.58 tCO2e
  • Scope 2: 5,712.96 tCO2e
  • Intensity: 0.02 tCO2e/₹M turnover
  • Waste Generated: 54.93 metric tonnes (14.90 e-waste, 2.38 battery waste, 37.65 other non-hazardous)
  • Waste Management: 36.33 tonnes recycled/reused, 18.60 tonnes disposed
  • No operations in ecologically sensitive areas
  • Compliant with all environmental laws
  • Renewable energy projects reducing GHG emissions
  • Business continuity and disaster management plans in place
Principle 7 (Public Policy Influence)
  • Member of 3 trade associations: Indian Merchants Chamber, CII, FICCI
  • No anti-competitive conduct issues
  • Active participation in public policy advocacy through industry bodies
Principle 8 (Inclusive Growth)
  • Social Impact Assessments conducted for Road Safety and Caring Hands initiatives
  • 100% input material sourced from within district/neighboring districts
  • 10.7% sourcing from MSMEs
  • Job creation: 71.7% metropolitan, 22.2% urban, 5.9% semi-urban, 0.2% rural
  • CSR beneficiaries: 1M+ underserved individuals through healthcare, education, livelihoods
  • Specific projects in aspirational districts (Kupwara, Jammu & Kashmir)
Principle 9 (Consumer Responsibility)
  • Robust consumer complaint mechanisms with 11,253 complaints in FY2026
  • Comprehensive cybersecurity and data privacy framework
  • ISO 27001:2013 and ISO 27017:2022 certifications
  • Multiple customer access channels: website, IL TakeCare App, WhatsApp, RIA chatbot
  • Customer education initiatives on safe product usage
  • No data breaches in FY2026
  • Customer satisfaction surveys and NPS tracking

Assurance and Compliance

  • Assurance Provider: PKF Sridhar & Santhanam LLP
  • Assurance Type: Independent Reasonable Assurance for BRSR Core Attributes
  • Compliance: Adheres to all applicable environmental laws and regulations