Investor Report Fy_25: ICICI Lombard General Insurance Company Ltd
Name: ICICI Lombard General Insurance Company Ltd
Industry: General Insurance
Founded: 2001 | IPO: FY2018
Business Model: Non-life insurance products (motor, health, fire, marine, crop)
Strengths: Strong solvency, robust underwriting, consistent profitability
Insurance Penetration (India): ~1% vs Global Avg ~3%
Growth Drivers:
Rising health insurance awareness
Digital adoption in underwriting/claims
Regulatory support (IRDAI push for financial inclusion)
Estimated CAGR till FY30: ~15%+
Key Challenges: Low awareness, competitive pricing, fraud management
Premium CAGR (20Y): 22.4%
Profit CAGR (20Y): 33.6%
EPS CAGR (10Y): 15.6%
Reserve CAGR (10Y): 19.2%
Fair PE: 37x but as the history is small, and growth would be 15% Fair PE could be 30x maximum.
Fair Value FY26 Estimate: ₹1500 – ₹2000
Target FY35 (EPS × PE): 193 × 30 = ₹5779
Premium: ₹28,258 Cr (+10.4% YoY)
Investment Income: ₹3,156 Cr (+10.3%)
PAT: ₹2,508 Cr (+30.8%)
EPS: ₹50.74
Profit Margin: 8.9%
FY26 Forecast:
Premium: ₹31,084 Cr
Profit: ₹2,487 Cr
EPS: ₹50
Margin: 8.0%
Vision FY35:
Premium: ₹127,240 Cr
Profit: ₹9,487 Cr
EPS: ₹193
Fair Value: ₹5779
CMP: ₹1,793
Buy Zone: ₹1,491 (Long-Term Support)
Target: ₹2,411 (FY26)
PE-based support/resistance provides accumulation opportunity
This presentation is for educational purposes only. It should not be construed as investment advice. Investors must conduct their own due diligence before investing.