HDFC Securities: ICICI Lombard’s Combined Operating Ratio Continues To Improve
An agent selling insurance products to customers. Photographer: Brendon Thorne/Bloomberg.

HDFC Securities: ICICI Lombard’s Combined Operating Ratio Continues To Improve

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Report

While FY21E is expected to be a muted year in terms of top-line growth, we believe ICICI Lombard General Insurance Company Ltd. will deliver lower combined operating ratios.

We remain cautious on health claims as a second wave of Covid-19 may result in significant increase in claims.

Additionally, changing regulations in motor are expected to drive down both claims and tariffs, creating supernormal profitability in the short term.

Click on the attachment to read the full report:

HDFC Securities ICICI Lombard Q2FY21 Results Update.pdf

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