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.
Motilal Oswal Report
The general insurance industry is all set to deliver a healthy 12% compound annual growth rate in premium over the next decade led by-
healthy trend in auto sales,
sustained strong momentum in health insurance demand and
commercial insurance lines growing in line with a robust economic growth.
Amid this, ICICI Lombard General Insurance Company Ltd. has emerged to be India’s largest private sector general insurance company post its merger with Bharti Axa General Insurance Company Ltd.
Stronger correlation with new auto sales, investments into health distribution channel, synergies from Bharti Axa merger and expected results of past investments in technology are the key earnings triggers for ICICI Lombard.
During FY22-24, we see the company delivering a premium/profit after tax CAGR of 19%/28% and a return on equity of 19.1% in FY24.
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