ICICI Lombard General Insurance Q4 FY 22 Research Tear Sheet

ICICI Lombard General Insurance Company Limited is an Indian General Insurance Company. It was founded in the year 2000. The company has its headquarter in
Mumbai, Maharashtra, India. The company deals with the following products  General insurance, Health insurance, Vehicle insurance, Travel insurance, Home insurance, Crop insurance and  Business insurance. As of date ICICI Lombard General Insurance Company Limited has  273 branches and 840 virtual offices. The shares are traded both on BSE and NSE.

Key Financial Highlights

Rs In lakhs	31-03-2022	31-03-2021
Premium Earned	3,31,778	2,61,622
Total Income	4,63,634	3,48,939
Operating Profit/Loss	1,00 ,956	78,188

Standalone Highlights

Gross Direct Premium Income is ₹ 46.66 billion in Q4 FY2022 but excluding the corp segment it stood at Rs ₹ 46.55 billion.  For Q4 2022, Profit before Tax stood at ₹ 4.10 billion. The Combined ratio for Q4 FY2022 is 103.2%, it has improved compared to Q4 FY2021 which was 101.8%. Profit before tax for Q4 FY 2022 is  ₹ 4.10 billion, which shows a decline compared to Q4 FY 2021. The company shows a significant improvement in Capital gains for Q4 FY 2022. It stood at ₹ 1.36 billion in Q4 FY2022 compared to ₹ 0.66 billion in Q4 FY2021.

Consolidated Highlights

Gross Direct Premium Income (GDPI)  for FY 2022 stood at ₹ 179.77 billion, but excluding the corp segment  the GDPI stood at ₹ 173.11 billion.  The Combined ratio shows an improvement  to 108.8% in FY2022 from 99.8% in FY2021. Profit before tax (PBT)  has declined to ₹ 16.84 billion in FY2022 from t ₹ 19.54 billion in FY2021. The company shows a significant improvement in Capital gain. It has improved  to ₹ 7.38 billion in FY2022 from ₹ 3.59 billion in FY2021.

Management Updates

The Company has proposed final dividend of ₹ 5.00 per share for FY2022. However, for FY 2022 the proposed final dividend is INR 9 per share.

Return on Average equity shows a decline in Q4 FY 2022. It is 14.0% in Q4 FY2022 as against 18.8% in Q4 FY2021.

The solvency ratio is 2.4X which, if quiet high from regulatory standard of 1.50x.

The IL Take Care app has successfully submitted 1,30,000 claims and over 70,000 tele-consultation requests.

Business Highlights

ICICI Lombard has entered into a strategic partnership with Airtel Payments Bank To Offer Cyber Insurance.

ICICI Lombard has  introduced RIA (Responsive Intelligent Assistant), an NLP-enabled chatbot which  will help upgrade the end user experience.

ICICI has introduced face scan diagnostic feature for its new app.

The company  has appointed  Sheena Kapoor as the Head – Marketing, Corp Comm & CSR.

ICICI Lombard has introduced a video calling feature for its health Insurance customers.