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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