ICICI Lombard General Insurance Company Ltd. share price target

at ~44% as on 3QFY22. The digital initiatives keep the company ahead of peers as IL Take Care app is user friendly, serving customers with key functionalities such as quick and easy claim process, online policy renewal, access to cashless hospital network and other features...

Market leadership with long term growth opportunity ICICI Lombard is the largest motor insurer in the private space with 11.7% market share as on January 2022 while it is second largest on an overall basis. Muted auto volume and Covid led to moderation in premium growth. However, with a pick-up in volumes and increase in TP rates, premium...

The strong growth potential of Indian non-life insurance remains the key investment argument of ICICI Lombard (ICICIGI). The company’s RoE and market share remains stable and there are several available levers which could potentially result in positive earnings cycle over next two years.

The profitability of the company in the near-term might be affected by resurgence of the pandemic. This along with spike in claim expenditure for health insurance line, and subdued performance of motor insurance line due to increased competition are expected to be the key factors determining the financial metrics. Hence, with a cautious stance, we maintain our HOLD rating on the stock with a revised target price of Rs. 1,636 based on 7.5x FY23E BVPS. Strong performance from P&C; segment led to increased GDPI...

Operating Profit fell 92.6% YoY to Rs 33cr on higher claims in Health segment. As a result, PAT also declined 61.9% YoY to Rs. 152cr, partly offset by higher capital gains (Rs. 244cr vs. Rs. 61cr in Q1FY21). As the profitability of the company in the near-term might be affected by pandemic related uncertainties, we expect the bottom line to be under pressure for coming few quarters. Hence, with a cautious stance, we...

Gross direct premium income (GDPI) rose 9.3% YoY, positively impacted by P&C; segment (25.7% YoY) and Motor segment (14.3% YoY). PAT grew 6.6% YoY to Rs. 314cr owing to capital gains of Rs. 108cr (vs Rs. 17cr in Q3FY20) and lower claims incurred (-2.3% YoY). Though we may see increase its sales and promotional expenses owing to pressure from competition, we expect the margins to improve from current levels. Hence, we upgrade our rating to BUY on the stock with a rolled forward target price of Rs. 1,591 based on 7x FY23E BVPS....

We continue to have a Buy rating on ILGI with a revised PT of Rs. 1,710. We had management interaction with ICICI Lombard General Insurance (ILGI) to get a business update. Higher collections in the health insurance vertical and momentum on overall business are positive. Recovery (and rebound) in auto sales augur well for the motor business. Strong pickup in the health segment has also helped post GDPI collections, which are encouraging. Premium income had already normalised for H1FY2021 (GDPI growth of 0.8% y-o-y for H1FY2021) and traction for October and November was healthy (YTD GDPI growth of 3%), which indicates...

We continue to have a Buy rating on ILGI with a revised PT of Rs. 1,710. We had management interaction with ICICI Lombard General Insurance (ILGI) to get a business update. Higher collections in the health insurance vertical and momentum on overall business are positive. Recovery (and rebound) in auto sales augur well for the motor business. Strong pickup in the health segment has also helped post GDPI collections, which are encouraging. Premium income had already normalised for H1FY2021 (GDPI growth of 0.8% y-o-y for H1FY2021) and traction for October and November was healthy (YTD GDPI growth of 3%), which indicates...

ICICI Lombard General Insurance (ILGI) reported strong Q2FY2021 results, better-than -expected operational performance, along with lower claim ratios and combined ratios further sweetening the performance. Performance was strong on the cost aspect, with combined ratio (lower is better) at 99.7% (same as Q1FY2021, was 100.4% in FY2020). Solvency ratio has improved further to 2.74x in Q2 FY2020 as against 2.17x in March, which is positive. ILGI trades at 32.9x/26.8x its FY2022E/FY2023E EPS and its long-term business fundamentals have remained steady even during times of crisis....