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Motilal Oswal Report
Domestic brokerage firm Motilal Oswal Financial Services reiterated a Buy rating on ICICI Lombard General Insurance Co. Ltd. and has set a target price of Rs 2,240, based on 28 times FY28E earnings per share.
Backed by a solid 25-year experience along with continued value addition across business lines, ICICI Lombard appears well positioned to harness the profitable growth opportunities in the under-penetrated general insurance sector.
Leadership in motor insurance, accelerating momentum in retail health, expanding distribution capabilities, growing AI integration and a strong balance sheet remain the key growth drivers.
The brokerage expecst ICICI Lombard's gross written premium PAT to expand at a CAGR of 12%/19% over FY26-28 as combined ratio declines to 101.7% by FY28.
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