What Happened
Exhicon Events Media Solutions Limited and ICICI Lombard General Insurance Company Limited have introduced a landmark initiative to bolster the exhibition insurance ecosystem in India. The program was officially launched during the 15th Conventions India Conclave (CIC) in New Delhi. This first-of-its-kind partnership is designed to bring specialized risk protection to the rapidly expanding exhibitions and trade fairs sector.
By focusing on awareness and adoption, the two organizations aim to provide tailored insurance solutions that address the unique challenges faced by stakeholders in the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry.
Significance of the Initiative
- Provides a comprehensive safety net for substantial investments in event infrastructure, logistics, and technology.
- Introduces a structured framework to mitigate operational, property, and third-party liability risks common in large-scale events.
- Facilitates easier access to insurance for individual exhibitors and organizers through a professional management approach.
- Strengthens the overall stability of the Indian trade fair sector by encouraging proactive risk-management practices.
- Leverages Exhicon's extensive network of venues and service providers to drive industry-wide adoption of insurance products.
Business and Financial Context
Exhicon Events Media Solutions operates within the commercial services sector, offering end-to-end solutions for exhibitions and trade fairs. The company has demonstrated strong financial performance, with annual operating revenue reaching ₹202.7 crore and net profit growing by over 56% year-on-year to ₹40.7 crore. With a market capitalization of ₹641.71 crore, the company maintains a robust Return on Equity (ROE) of 20.39%.
This new partnership with ICICI Lombard aligns with Exhicon's strategy to deepen its industry presence and add value to its broad ecosystem of organizers, associations, and service providers.
Leadership Perspective
We are particularly proud that this initiative was unveiled at the 15th Conventions India Conclave at Bharat Mandapam, where the entire convention, exhibition, events and MICE ecosystem came together from India and across the world. EXHICON is delighted to be the Gold Partner of this important industry platform.
