Street View: ICICI Lombard steady after Q4 beat; some brokerages upbeat on motor insurance demand

ICICI Lombard General Insurance

16/04/2026 05:49

**  India's ICICI Lombard General Insurance ICIL.NS on Wednesday posted a 7% rise in Q4 profit, on strong demand for retail health insurance products

** Shares were trading flat at 1,869.60 rupees as of 9:30 am IST on Thursday

 STEADY OUTLOOK, GROWTH VISIBILITY IMPROVES

** Jefferies ("buy", PT 2,300 rupees), lifts FY27 PAT by 4% on better loss ratios; sees FY28 largely unchanged, says slowdown in motor vehicle sales due to Middle East war remains a near-term risk

** Goldman Sachs ("neutral", PT 1,965) sees motor insurance growth picking up to double digits in FY27 on a focus on profitable growth and tighter loss ratios

** Morgan Stanley ("equal-weight", PT 1,920), retains EPS estimates for FY27–28, sees average ROE at ~16% over the period

** Emkay ("add", PT 2,100) sees pricing pressure in fire insurance segment slowing growth, but management remains optimistic on motor and health, supported by tax exemptions

** HSBC ("buy", PT 2,200) expects ~14% premium CAGR over FY26–FY29, driven by strong brand recall, wide distribution, and easing competitive pressures

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))