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Buy ICICI Lombard General Insurance; target of Rs 1550: ICICI Direct

ICICI Direct is bullish on ICICI Lombard General Insurance recommended buy rating on the stock with a target price of Rs 1550 in its research report dated March 29, 2022.

March 29, 2022 / 09:01 PM IST
 
 
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ICICI Direct's research report on ICICI Lombard General Insurance

ICICI Lombard is among the leading multi-line players in the general insurance space with ~8.3% market share on an overall basis. The motor segment is a key contributor and forms 44% of total premium • The general insurer is among the most profitable and consistent in terms of return ratios with RoE of ~16-20% for a sustainable period.


Outlook

We value ICICI Lombard at 3x FY24E premium (50% weight) and 1.5x FY24E float (50% weight) to arrive at a TP of Rs 1550 per share.