Page 3 - Icici Lombard

Standalone health, private multi-line insurance players see more gains

Target prices though indicate decent upside in Star Health, and minor gains in ICICI Lombard

ICICI Lombard gets Rs 273 crore tax-demand notice from DG GST Intelligence

ICICI Lombard General Insurance has received a Rs 273.44 crore-tax demand notice from the Directorate General of GST Intelligence with regard to settled motor insurance claims. According to a regulatory filing, ICICI Lombard, on August 8, received a show cause notice, dated July 26, alleging a tax demand of Rs 273,44,50,284 under the GST Act along with interest and penalty. "The matter largely relates to an industry-wide issue on applicability of GST on salvage adjusted and ineligible input tax credit, on motor claims settled. The company has deposited Rs 104,13,18,970 under protest, without accepting any liability in this regard," it said. Further, ICICI Lombard said the company would be filing its response to the show cause notice. Shares of ICICI Lombard General Insurance closed 1.70 per cent lower at Rs 1,391.60 apiece on the BSE on Wednesday.

ICICI Lombard posts 12% rise in Q1 profit on higher investment income

Income from investments jumped nearly 27% to 6.22 billion rupees, helped by an increase in the market value of securities and higher profits on the sale of investments

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Stocks to Watch today, June 7, 2023: Tata Power, Uniparts India, Seshasayee Paper, Marksans Pharma will turn ex-dividend on Wednesday

Stake hike, operational improvement should drive re-rating in ICICI Lombard

Most analysts are positive on the stock with target prices between Rs. 1,250 and Rs. 1,630

ICICI to move ahead with its plan to increase 4% stake in Lombard business

In a similar move, The RBI had given the HDFC Bank the permission to increase its take in HDFC Life Insurance and HDFC Ergo General Insurance beyond 50 per cent

ICICI Lombard soars 14% as ICICI Bank plans to buy additional 4% stake

ICICI Bank would acquire at least 2.5 per cent stake out of the above 4 per cent before September 9, 2024.

Stake sale, easing competitive pressures key for ICICI Lombard

The combined ratio at 104.2 per cent was stable quarter-on-quarter (QoQ), despite a rising 74.2 per cent claims ratio (up from 70.3 per cent in Q3FY23)

ICICI Lombard dips 4% post March quarter results

The country's largest private sector general insurer reported a 39.6 per cent surge in net profit to Rs 436.96 crore in Q4FY23, aided by a lower loss ratio and a dip in underwriting losses.

ICICI Lombard Q4 net up 39.6% to Rs 437 cr as underwriting losses dip

For the whole of FY23, the firm earned a net profit of Rs 1,729 cr, up 36% from Rs 1,271 cr in FY22

ICICI Bank given time till Sept 2024 to pare stake in ICICI Lombard

Lender currently holds a little over 48% in the general insurer; must bring that down to 30%

Analysts hopeful of ICICI insurance twins despite Q3 disappointment

Fair value targets of brokerages suggest there is some upside in the two stocks

Stock valuations factor in negatives for ICICI Lombard, say analysts

Improving topline growth but combined ratio, loss ratio key concerns

ICICI Lombard Q2 net up 32% to Rs 591 cr on reversal of tax provision

Gross direct premium income up 17% to Rs 5,185 cr; combined ratio, which indicates underwriting discipline, stable at 105.1%

Insurance stocks: Analysts see decent upside in HDFC Life, ICICI Lombard

Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers

ICICI Lombard's Q1 net up 80% to Rs 349 cr on strong premium income

The gross direct premium income by the insurer during the period was Rs 5,370 crore, up 28.2 per cent from the year-ago period

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ICICI Lombard to settle claims of up to Rs 5 lakh by MSMEs within 10 days

This facility will empower MSMEs to manage unwarranted situations arising from any mishaps

ICICI Lombard slips 5%; stock hits lowest level since May 2020

Muted business growth in two years coupled with higher claims led by covid-19 resulted in the recent underperformance.

Irdai sets up committees through GIC to suggest industry overhaul

These panels have been formed to look into areas of regulation, products, distribution, finance, health, finance, taxation, ease of doing business, among others