ICICI Securities: ICICI Lombard Q2 Review - Strong Franchise Should Benefit From Cycle Recovery
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ICICI Securities Report
ICICI Lombard General Insurance Company Ltd. expects approximately 30% earnings compound annual growth rate in FY20-22E as multiple elements point towards a positive business cycle for general insurance in the near term. ICICI Lombard will be a key beneficiary.
The combination of low growth in motor premiums, higher Covid-19 claims, no hike in motor third party rates point to a business trough in H1 FY21.
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