Mr. Jaikishan Parmar – Sr. Equity Research Analyst, Angel Broking Ltd

“ICICI Lombard reported a good set of numbers for Q2FY21. Gross Direct Premium Income (GDPI) grew 8% YoY and declined 3.4% QoQ. PAT jumped 35% YoY, primarily owing to a Lower claim ratio and better combined ratio. The combined ratio improved by 30bps YoY to 100.1% due to lower claims in motor insurance. Retail health indemnity grew by 39% YoY in H1FY21 (48% YoY in Q2FY21). ICICI Lombard received 17000 covid-19 claims, which led to an outflow of Rs.115cr, if India does not witness the second wave of Covid Case then it will be positive for ICICI Lombard. General insurance segment well placed in the current scenario and ICIC Lombard has required skill set of underwriting, has strong capital to grow business. In current times the indemnity segment will help to improve growth. currently, it trades at 41x of trailing earnings, we have a positive view on ICICI Lombard considering the healthy return ratio and the industry has a structural demand tailwind.”

Shares of ICICI Lombard General Insurance Company Ltd was last trading in BSE at Rs.1254.95 as compared to the previous close of Rs. 1256.45. The total number of shares traded during the day was 7380 in over 983 trades.

The stock hit an intraday high of Rs. 1265 and intraday low of 1241.3. The net turnover during the day was Rs. 9240850.

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