ICICI Lombard share price: Buy ICICI Lombard General Insurance Company, target price Rs 1650: ICICI Securities

ICICI Securities has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1650. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1311. Time period given by analyst is one year when ICICI Lombard General Insurance Company Ltd. price can reach defined target.

ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64606.22 Crore) operating in Financial Services sector.

ICICI Lombard General Insurance Company Ltd. key Products/Revenue Segments include Miscellaneous Insurance, Interest, Dividend & Rent, Fire Insurance, Income From Sale Of Share & Securities for the year ending 31-Mar-2021.


For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 4799.75 Crore, up 19.42 % from last quarter Total Income of Rs 4019.13 Crore and up 32.29 % from last year same quarter Total Income of Rs 3628.23 Crore. Company reported net profit after tax of Rs 312.51 Crore in latest quarter.

Investment Rationale
ICICI GI hinted at several strategic changes, including (1) investing more for future growth even if this entails lower RoE, (2) increasing CV mix in motor segment and (3) prioritising business selection basis combined ratio over loss ratio which would imply relative open stance for high loss ratio but low acquisition cost businesses. Most of the changes have been necessitated from the need to protect market share in the wake of competition, as the brokerage continues to see slow growth in motor. It remains constructive on cyclical recovery and strong growth potential of Indian non-life insurance sector. This remains the key investment argument of ICICI Lombard (ICICIGI).

Promoter/FII Holdings
Promoters held 48.04 per cent stake in the company as of 31-Mar-2022, while FIIs owned 28.33 per cent, DIIs 12.29 per cent.

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