ICICI Lombard General Insurance Share price: Sharekhan recommends a Buy with a revised price target of Rs 1750
Sharekhan recommends a Buy on ICICI Lombard General Insurance with a revised price target of Rs 1750. ICICI Lombard General Insurance reported steady numbers for Q3 FY21. Operational performance was mixed, helped by lower combined ratios. However, upfronting of acquisition costs, higher claims payout offset the GDPI growth and impacted PAT performance. Premium incomes normalised in 9MFY2021 (GDPI growth stood at 3.9% yoy for the period).
ICICI Lombard General Insurance continued to see claims ratios decline. Performance was strong on the cost aspect, with a lower combined ratio of 97.9% (was 100.4% in FY2020): pic taken from youtube.com