ICICI Lombard, in its annual report, has reiterated its future readiness to capitalize on the fast-growing general insurance industry. Its core business strategy is built on five strategic pillars: delivering market-leading performance; providing next-gen customer service via the use of technology; offering innovative products and capturing newer market opportunities; maintaining robust risk management; and optimizing capital and improving operating performance.
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Motilal Oswal Report
Despite subdued growth in the general insurance industry in FY25, ICICI Lombard General Insurance Company Ltd. continued to maintain profitable growth, achieving double-digit expansion in the Motor segment through focused initiatives in older and commercial vehicles and refined portfolio segmentation.
The health segment, particularly retail, remained a key growth driver, supported by market share gains, strong traction from new customer acquisitions, and inflation-linked pricing strategies.
We have increased our earnings estimates by 3%/5% for FY26/FY27, driven by a decline in expenses.
Reiterate a Buy rating on the stock with a target price of Rs 2,300 (based on 33x Mar'27E earnings per share).
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