ICICI Lombard - Tech Initiatives To Drive Long-Term Efficiencies: Motilal Oswal

Motilal Oswal Report

Over the last few quarters, ICICI Lombard General Insurance Company Ltd. has gained market share in the motor segment as the pricing environment has been relatively more conducive.

The company would like to operate in the 9.5-11% range of market share in the motor insurance segment.

ICICI Lombard aspires to increase its indemnity health market share from the current 3% to 4.5% over the next three-five years by focusing on product development and cross-selling across channels.

The company will continue to invest in digital and tech initiatives. In the medium term, efficiencies from these investments, along with scale benefits, will improve profitability. We have a Buy rating on the stock with a one-year target price of Rs 2,000 (FY26E 34 times earnings per share).

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