Sharekhan's research report on ICICI Lombard General Insurance Company
ICICI Lombard, hosted its Tech Day wherein it showcased its technological capabilities, which is driving the strong business transformation. New-age technologies such as Artificial Intelligence/Machine Learning, IoT, Cloud and Data Analytics are adding better cost efficiencies/ engagement with customers, improving business sourcing, and identifying early risk alerts. Without incurring substantial additional costs, the business is expected to achieve its core objectives - agility, efficiency, reliability, and security, over the medium to long term.
Outlook
Stock trades at 35.5x/29.8x its FY2025E/FY2026 EPS. We maintain a Buy rating with a revised PT of Rs. 1,950.
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