Broker s call: ICICI Lombard (BUY)
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Updated on
CMP: ₹1,480.65
ICICI Lombard General Insurance Company Limited (ICICIGI) is one of the leading private sector non-life insurers in India. The company offers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels like individual agents, corporate agents – banks, other corporate agents, brokers, MISPs, digital and direct sales.
The company commenced operations in 2002 after obtaining regulatory approval from IRDAI.
For YTD FY21, ICICI Lombard reported a 3.85 per cent y-o-y increase in premiums to ₹11,951.35 crore. At ₹313.53 crore in December 2020, quarterly net profit rose 6.6 per cent from ₹294.11 crore in December 2019. In December 2020, EBITDA stood at ₹418.23 crore, up 7.26 per cent from ₹389.92 crore in December 2019.
The
Microinsurance Market research report thoroughly explains each and every aspect related to the Global Microinsurance Market, which facilitates the report’s reader to study and evaluate the upcoming market trend and execute the analytical data to promote the business.
Microinsurance Market Insight:
Microinsurance market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to grow at a CAGR of 7.30% in the above-mentioned forecast period. The rising cost of healthcare and requirement for proficient flow of processes without the difficulty caused due to payment processes has been directly impacting the growth of microinsurance market.
The Reserve Bank of India (RBI) approved the appointment of Sandeep Batra as the Executive Director of ICICI Bank. The appointment comes into effect from Wednesday. Batra has been appointed as the Executive Director for a period of three years. RBI vide its letter dated December 22, 2020 has communicated its approval for the appointment of Sandeep Batra as Executive Director of the Bank, ICICI Bank said in regulatory filing. The Board of Directors of the Bank vide a circular resolution dated December 23, 2020 has recorded December 23, 2020 as the effective date of appointment and taking charge by Sandeep Batra as Executive Director of the Bank, it said.