ICICI Lombard climbs on decent Q2 performance

ICICI Lombard General Insurance Company rallied 3.62% to Rs 1,288.85 after net profit advanced 5.1% to Rs 307.91 crore on 6.1% rise in net sales to Rs 2,356.92 crore in Q2 September 2019 over Q2 September 2019.

The result was announced after market hours on Friday, 18 October 2019.

Gross direct premium income (GDPI) of the company fell 16.4% to Rs 2953 crore in Q2 September 2019 over Q2 September 2018.

Return on average equity (ROAE) was reported at 22% in Q2 September 2019 compared with 23.9% in Q2 September 2018.

Combined ratio stood at 102.6% in Q2 September 2019 compared with 101.1% in Q2 September 2018.

Solvency ratio was 2.26x at 30 September 2019 as against 2.20x at 30 June 2019 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.24x at 31 March 2019.

Meanwhile, the S&P BSE Sensex was down 69 points or 0.17% to 39,229.83.

On the BSE, 39,844 shares were traded in the counter so far compared with average daily volumes of 1.52 lakh shares in the past two weeks.

The stock hit an intraday high of Rs 1,292.65, which is also an all-time record high for the counter. It hit an intraday low of Rs 1,239. The stock hit a 52-week low of Rs 759.40 on 22 October 2018.

ICICI Lombard General Insurance Company's segments include fire, engineering, marine cargo, marine hull, motor OD, motor TP, workmen's compensation, public/product liability, personal accident, aviation, health, credit insurance, crop/weather insurance and others.

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