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ICICI Lombard Q2 FY23 — Robust premium growth a key positive

The insurer’s premium valuation will sustain on the back of its market leading share, fairly diversified product mix, strong multi-channel distribution network, solid technological prowess, strong solvency profile, and healthy profitability

October 19, 2022 / 03:52 PM IST
ICICI Lombard Q2 FY23 — Robust premium growth a key positive

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Solid premium growth, gains market share Tepid growth in motor segment amid stiff competition Health insurance growth driven by group segment Combined ratio flat despite the rise in claims ratio Expenses ratio declines and supports profitability Investment income supports earnings  Valuations rich but sustainable given superior franchise ICICI Lombard General Insurance (CMP: Rs 1,150; Mcap: Rs 56,461 crore) has reported strong earnings in the second quarter of FY23 (Q2 FY23), aided by market share gains and a control on expenses. Net profit in Q2 was boosted...

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