ICICI Lombard General Insurance Co. Ltd. (ICICIGI) AI Stock Analysis

• Market Cap: ₹953.89B
• Dividend Yield: 0.65%
• Average Volume (3M): 15.57K
• Price to Earnings (P/E): 35.4
• Beta (1Y): 0.72
• Revenue Growth: 15.68%
• EPS Growth: 26.12%
• Country: IN
• Employees: 13,670
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Diversified
• EPS (TTM): 14.92
• Shares Outstanding: 497,168,640
• 10 Day Avg. Volume: 6,455
• 30 Day Avg. Volume: 15,572
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,099.50
• Price Target Upside: 9.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 68 Neutral
• Price Target: ₹2,084.00 ▲(8.62% Upside)

ICICI Lombard's strong financial performance is the most significant factor, showcasing robust growth and financial stability. However, technical analysis indicates mixed market signals, and the valuation suggests the stock is relatively expensive with a low dividend yield. These factors collectively result in a moderate overall stock score.

ICICI Lombard General Insurance Co. Ltd. Business Overview & Revenue Model

Company Description

ICICI Lombard General Insurance Co. Ltd. (ICICIGI) is one of India's leading private sector general insurance companies. It offers a comprehensive range of insurance products including motor, health, travel, home, and marine insurance. The company caters to a diverse clientele, comprising individuals, small and medium enterprises, and corporates. With a strong distribution network across the country, ICICIGI leverages technology-driven platforms to provide innovative and customer-centric solutions.

How the Company Makes Money

ICICI Lombard General Insurance Co. Ltd. generates revenue primarily through the underwriting of insurance policies across various segments including health, motor, and property. The company earns premiums from policyholders who pay for insurance coverage. A significant portion of its revenue comes from the motor and health insurance sectors, which are among the largest segments in the general insurance market. Additionally, ICICI Lombard invests the premiums it collects in various financial instruments to earn investment income, which is a crucial component of its revenue model. The company also collaborates with banks and other financial institutions to expand its distribution and enhance its market reach. Partnerships with vehicle manufacturers and healthcare providers further bolster its ability to offer competitive products and services. Profitability is maintained by managing claims efficiently and optimizing operational costs.

ICICI Lombard General Insurance Co. Ltd. Financial Statement Overview

Summary

ICICI Lombard shows strong financial performance with significant revenue and profit growth and effective cost management. The balance sheet is solid with low leverage, indicating financial stability. Although cash flow growth poses some challenges, the company maintains positive cash generation.

Income Statement

ICICI Lombard has demonstrated a strong revenue growth trend, with a significant increase from 2024 to 2025. The gross profit margin remains consistent at 100%, reflecting cost efficiency. Net profit margin improved from 8.8% in 2024 to 10.4% in 2025, indicating enhanced profitability. The company's EBIT and EBITDA margins are robust, showcasing effective operational management. Overall, the income statement shows solid growth and profitability.

Balance Sheet

The balance sheet reveals a healthy equity position with an equity ratio of approximately 21.7% in 2025, indicating strong financial stability. The debt-to-equity ratio is low at 0.005, suggesting minimal leverage risk. Return on equity (ROE) improved to 16.7% in 2025, showing efficient use of equity to generate profits. Overall, the balance sheet reflects financial soundness with low risk due to manageable debt levels.

Cash Flow

Cash flow analysis presents a mixed picture. The free cash flow decreased from 2024 to 2025, but the company maintains positive free cash flow and a healthy operating cash flow to net income ratio of 0.46. The decrease in free cash flow growth rate suggests potential challenges in cash generation. However, the company has a positive free cash flow to net income ratio of 0.36, indicating adequate cash generation relative to profits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	240.10B	240.20B	217.85B	178.55B	168.76B	127.32B
Gross Profit	240.07B	240.20B	217.85B	187.42B	168.76B	127.32B
EBITDA	25.49B	35.47B	27.83B	23.36B	19.21B	21.71B
Net Income	25.08B	25.08B	19.19B	17.29B	12.71B	14.73B
Balance Sheet
Total Assets	690.20B	690.20B	633.08B	550.86B	508.48B	392.98B
Cash, Cash Equivalents and Short-Term Investments	31.00B	31.00B	36.10B	2.03B	2.85B	2.28B
Total Debt	0.00	816.10M	1.67B	1.20B	3.42B	4.85B
Total Liabilities	540.36B	540.36B	503.58B	446.42B	416.56B	316.99B
Stockholders Equity	149.84B	149.84B	122.05B	104.44B	91.93B	75.99B
Cash Flow
Free Cash Flow	0.00	9.16B	22.16B	21.69B	7.33B	16.95B
Operating Cash Flow	0.00	11.47B	24.07B	22.90B	8.09B	17.74B
Investing Cash Flow	0.00	-11.37B	-19.21B	-16.85B	1.12B	-13.67B
Financing Cash Flow	0.00	-2.57B	-3.55B	-6.95B	-8.79B	-2.12B

ICICI Lombard General Insurance Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1918.65
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICICIGI, the sentiment is Neutral. The current price of 1918.65 is above the 20-day moving average (MA) of 1914.18, below the 50-day MA of 1956.25, and above the 200-day MA of 1860.91, indicating a neutral trend. The MACD of -2.40 indicates Negative momentum. The RSI at 47.65 is Neutral, neither overbought nor oversold. The STOCH value of 41.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ICICIGI.

ICICI Lombard General Insurance Co. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GODIGIT	76 Outperform	₹341.90B	73.95		―	―	―
Sector *	68 Neutral	$17.60B	11.93	10.30%	3.77%	9.67%	0.38%
ICICIGI	68 Neutral	₹953.89B	35.39		0.65%	15.68%	26.12%
GICRE	―	₹665.09B	7.81		2.64%	―	―
HDFCLIFE	61 Neutral	₹1.70T	90.30		0.27%	-5.42%	14.77%
NIACL	―	₹319.14B	26.97		1.07%	―	―
STARHEALTH	68 Neutral	₹260.69B	44.18		―	25.63%	-33.01%

ICICI Lombard General Insurance Co. Ltd. Corporate Events

ICICI Lombard Announces Change in Board of Directors

ICICI Lombard General Insurance Company Limited announced the cessation of Mr. Suresh Kumar as a Non-executive, Independent Director due to reaching the maximum age limit of 75 years as per regulatory guidelines. The company acknowledged Mr. Kumar’s significant contributions during his tenure, reflecting the company’s compliance with corporate governance norms and its commitment to maintaining a dynamic and compliant board structure.

ICICI Lombard’s AAA Rating Reaffirmed by ICRA

ICICI Lombard General Insurance Company Limited announced that ICRA Limited has reaffirmed its Issuer Rating as ‘[ICRA]AAA(Stable)’. This reaffirmation underscores the company’s strong financial position and operational stability, enhancing its credibility in the market. The stable outlook reflects the company’s robust business model and its ability to maintain leadership in the general insurance sector, which is likely to positively influence stakeholder confidence and support future growth initiatives.

ICICI Lombard Concludes 25th AGM with Regulatory Compliance

ICICI Lombard General Insurance Company Limited held its Twenty-Fifth Annual General Meeting on June 30, 2025, via video conferencing in compliance with relevant regulations. The meeting included the presentation of voting results and a scrutinizer’s report, highlighting the company’s adherence to regulatory requirements and transparency in its operations.

ICICI Lombard Urges Shareholders to Update KYC Details for Seamless Dividend Payments

ICICI Lombard General Insurance has issued a notice to shareholders holding physical shares, urging them to update their KYC details in compliance with SEBI regulations. This move is crucial to ensure shareholders can continue to receive dividends and other payments electronically, aligning with regulatory requirements and enhancing operational efficiency.