ICICI Lombard General Insurance Company Ltd has announced that Mr. Suresh Kumar has ceased to be a Non-executive, Independent Director of the company, effective close of business hours on July 8, 2025. His cessation is in compliance with the IRDAI’s Master Circular on Corporate Governance for Insurers, 2024, which mandates that no non-executive director shall continue on the board after attaining the age of 75 years.
Mr. Kumar was re-appointed for a second five-year term starting June 1, 2021, following a special resolution passed by shareholders through postal ballot on April 9, 2021, which also approved the continuation of his directorship beyond 75 years. However, the updated IRDAI regulations now supersede earlier provisions.
The Board of Directors has expressed deep appreciation for Mr. Kumar’s valuable contributions during his tenure, recognizing his guidance and service as an Independent Director of the company.