ICICI Lombard General Insurance Q4 Preview: Insurance firm likely to see 13% jump in net premium

ICICI Lombard General Insurance Q4 Preview: ICICI Lombard General Insurance's net premium for the fourth quarter of FY2324 is likely to rise by 13 per cent, while its profit may jump by 5.2 per cent as the insurance company is set to report its fourth-quarter results on Wednesday (April 17, 2024).

As per Zee Business research, the company's net premium earned for the January-March 2024 quarter is likely to rise by 13 per cent to Rs 4,210 crore against Rs 3,726 crore Year-on-Year (YoY).

The analysts estimate the insurance company's profit to jump by 5.2 per cent to Rs 460 crore in the fourth quarter compared to Rs 437 crore in the same quarter last fiscal.

The company's claim ratio is expected to decline to 70.9 per cent in the quarter under prevew against 74.2 per cent YoY.

ICICI Lombard's expense ratio, meanwhile, is estimated to be 15.6 per cent in Q4 against 27.7 per cent it reported in the year-ago period.

The large-cap company's net commission ratio, however, can climb to 17.8 per cent in the March quarter against 2.3 per cent in the same quarter last year.

The insurance company's combined ratio, however, is expected to remain at the same level as before as it is estimated to be at 104.3 per cent against 104.2 per cent YoY.

Zee Business research says that ICICI Lombard's premium growth will remain strong.

Analysts have expectations of growth in the company's health and motor segments.

The research says that there can be a possible decline in the insurance firm's claim ratio and expense ratio.

Its combined ratio, on the other hand, is expected to remain flat in the quarter under review, as per the research team.

ICICI Lombard's stock closed at Rs 1,649.05 on Tuesday.