Subscribe to ICICI Lombard General Insurance Company : Way2wealth

The other IPO which also received huge responses were Happiest Minds Technologies and Chemcon Speciality Chemicals, which was subscribed 150.98 times and 149.3 times respectively. Interestingly, both these stocks have seen bumper listing gained over 100 percent. Let's see how the IPO subscription and listing happened in 2020 so far, considered only IPOs issue size over Rs 100 crore.

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26 Aug, 2025 12:21

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ICICI Lombard General Insurance Company Ltd. (ILGIC) was founded as a joint venture between ICICI Bank Ltd., India’s largest private sector bank (in terms of consolidated total assets) and Fairfax Financial Holdings Ltd., a Canadian based holding company engaged in property and casualty insurance and re-insurance and casualty management. ILGIC is the largest private sector non-life insurer in India based on gross direct premium income since FY04 after commencing operations in FY02. ILGIC offers its customers a wide range of products including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance.

ICICI Lombard is the largest private-sector non-life insurer in India, a position the company has maintained since FY04 after being one of the first few private-sector companies to commence operations in the sector in FY02. The company has a market share of 18% in the private sector and an overall industry market share of 8.4% in FY17. ICICI Lombard has set a new standard by servicing 17.7 million policies in FY17, an increase of 12% and in terms of claim settlement response time, the company anchored set standards, settling 99.4% health claims and 92.2% motor claims (own damage) within 30 days. At the price band of `651-661 the asking valuations for the issue are ~46-47x its FY17 EPS of `14.1/- & ~8x P/BV for FY17. As a macro space we believe insurance sector can witness high growth as awareness of risk cover as well as shift of savings to financial assets accelerates over the next decade. Being a leader in the space & having superior operating metrics we believe the company is well poised to take up the opportunity of increase in penetration over the next few years. We advice investors with a long-term investment horizon to SUBSCRIBE to the issue.

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