BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
ICICI Lombard General Insurance Company Ltd.'s net premiums earned grew by 4.5% QoQ, driven by health (including personal accident) and motor segments.
The motor own damage loss ratio was 73.6%, up 70 bps QoQ as pricing discipline has not, as of yet, returned. In any case, the strategy has been to increase focus on high loss ratio but low sourcing cost motor OD business. The company expects motor OD pricing discipline to come back this year.
The motor third party loss ratio was 73.9%, down 440 bps QoQ, as rate hikes helped. Management stated that the rate hike is not in line with claims inflation. However, if the courts begin to adopt six-month limit under the motor vehicle rules, it would be a positive.
Overall health, travel and PA loss ratio for the quarter was 73.7%, down 290 bps QoQ. Within this, the retail Indemnity loss ratio was 78% due to high non-Covid claim intimations and ICICI Lombard will observe Q2 FY23 before it is able to understand whether it is a case of claims bunching up or something structural.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR