ICICI Lombard General Insurance reported a 19% Q4FY24 growth, driven by a better-than-expected combined ratio.
ICICI Lombard General Insurance reported a 19% annual growth in Q4FY24, driven by a better-than-expected combined ratio. The company's focus on its oneIL, one-team strategy is expected to lead to 26% CAGR earnings growth over FY24-26. Analysts of IIFL Securities forecast a 15%-26% GDPI/EPS CAGR over the same period, and the stock is trading at 32/27x FY25/FY26 P/E. ICICI Lombard shares jumped 5% to Rs 1736 following the Q4FY24 beat.
April 18, 2024
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