New Delhi, 15 Oct 20020: With a focus on healthcare, road safety, education, skill development and sustainable livelihoods, ICICI Lombard has spent a significant amount of Rs 24.23 Crore under various CSR activities in the financial year 2019-20.
The average net profit of ICICI Lombard, a general insurance company, for the last three financial years stood at Rs 1,199.96 Crore. The prescribed CSR expenditure for this year was thus calculated as Rs 24 Crore for the company. However, the company has spent 24.23 Crore towards its CSR activities. Moreover, it has also contributed Rs 5 Crore towards PM Cares Fund for COVID-19.
"Going beyond business, we continue to fulfil our obligations as a responsible corporate citizen. As part of our CSR commitment, we contributed Rs 5 crore to PM CARES Fund. Harnessing our healthcare experience and partnership networks, we introduced free COVID-19 testing for the underprivileged segment and distributed Personal Protection Equipment (PPE) to the medical personnel treating COVID-19 positive cases in highly impacted cities like Mumbai," the company said in its annual report.
All the decisions related to CSR activities were taken by the CSR Committee which comprises four members. The company’s CSR Committee is headed by Chairman Uday Chitale. The CSR Committee met twice during the year under review in April and July 2019.
CSR Expenditure on key projects:
| Projects | Sectors | Locations | Amount spent (in crores) |
| Projects of ICICI Foundation for Inclusive Growth | Promoting education, employment enhancing vocational skills and livelihood enhancement projects | Across India | 12.30 |
| Ride to safety | Promoting road safety education | Mumbai, Delhi, Pune, Ahmedabad, Chennai, Nagpur and Bangalore | 5.96 |
| Industry awareness campaign | Awareness | Across India | 3.58 |
| Eye check-up camps for under-privileged school kids | Promoting healthcare | Conducted at 318 schools across 110 locations | 2.39 |
Various CSR initiatives
With employee-volunteering programme ‘Caring Hands’, the company reached out to over 43,000 underprivileged children by organising eye-screening camps. The flagship programme ‘Ride to Safety’ continued to spread the message of road safety, reaching out to over 40,000 parents and children.
Caring Hands: Through the ‘Caring Hands’ initiative, the company organised 318 camps at 110 locations and screened 43,687 children for defects in vision. The company also identified 7,929 children with poor vision and provided them free spectacles.
Ride to Safety: Launched to generate awareness on road safety in India, ‘Ride to Safety’ is a nationwide initiative of the company. In ‘Ride to Safety’ initiative, the company conducted more than 200 direct contact programmes across 7 cities to raise awareness on road safety. Over 33,000 ISI-mark helmets were distributed to the parents and children attending the workshops to facilitate behavioural change on the need to wear helmets and respect and adopt road safety measures.
Niranjali: Through the wellness initiative ‘Niranjali’, the company educates children on the importance of clean and safe drinking water. During the year, the company installed water purifiers in 70 schools.
