ICICI Lombard & other general insurance stocks in focus after May premium data

ICICI Lombard and other general insurance stocks gained focus in Friday’s trade (June 14) after May data showed 15 per cent on-year growth in premium in the segment. The premium during the month for general insurers soared to around Rs 20,908 crore. Meanwhile, standalone health insurance premium logged a 26 per cent increase on-year.

Among the industry players, ICICI Group's general insurance arm-ICICI Lombard logged a premium growth of 21.6 per cent on-year to Rs 2,105 crore. Its market share up to May also registered a 60 bps growth on-year.  State-run New India Assurance, however, logged a 1 per cent degrowth in premium collection on-year during the month to around Rs 2404 Cr crore. 

At the last count, shares of ICICI Lombard traded higher by 2.45 per cent at Rs 103.15, New India Assurance traded up by over 3 per cent at Rs 249, Star Health up by 0.68 per cent at Rs 520.05 and Go Digit traded with minor gains of 0.26 per cent at Rs 341.55.

(This story will be updated shortly)