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ICICI Lombard General Insurance

NSEI:ICICIGI
Snowflake Description

Solid track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ICICIGI
NSEI
₹494B
Market Cap
  1. Home
  2. IN
  3. Insurance
Company description

ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The last earnings update was 78 days ago. More info.


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  • ICICI Lombard General Insurance has significant price volatility in the past 3 months.
ICICIGI Share Price and Events
7 Day Returns
1%
NSEI:ICICIGI
2.3%
IN Insurance
1.7%
IN Market
1 Year Returns
41.6%
NSEI:ICICIGI
-5.4%
IN Insurance
0.1%
IN Market
ICICIGI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ICICI Lombard General Insurance (ICICIGI) 1% 12.4% 27.2% 41.6% - -
IN Insurance 2.3% 6.1% 8% -5.4% 65.9% 90.1%
IN Market 1.7% 2.7% 5.8% 0.1% 41.6% 73.3%
1 Year Return vs Industry and Market
  • ICICIGI outperformed the Insurance industry which returned -5.4% over the past year.
  • ICICIGI outperformed the Market in India which returned 0.1% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

ICICIGI Value

 Is ICICI Lombard General Insurance undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ICICI Lombard General Insurance to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ICICI Lombard General Insurance.

NSEI:ICICIGI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= ₹163.35 * 22.4%
₹36.67
Book Value of Equity per Share Weighted future Book Value estimates from 11 analysts. ₹163.35
Discount Rate (Cost of Equity) See below 14.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:ICICIGI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 35%) (1.51%))
0.821
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.821 * 8.6%)
14.61%

Discounted Cash Flow Calculation for NSEI:ICICIGI using Excess Returns Model Model

The calculations below outline how an intrinsic value for ICICI Lombard General Insurance is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NSEI:ICICIGI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (22.4% – 14.61%) * ₹163.35)
₹12.80
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹12.80 / (14.61% - 7.55%)
₹181.29
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹163.35 + ₹181.29
₹344.64
NSEI:ICICIGI Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:ICICIGI represents 1.00298x of BSE:540716
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00298x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 344.64 x 1.00298
₹345.67
Value per share (INR) From above. ₹345.67
Current discount Discount to share price of ₹1,095.45
= -1 x (₹1,095.45 - ₹345.67) / ₹345.67
-216.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of ICICI Lombard General Insurance is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ICICI Lombard General Insurance's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ICICI Lombard General Insurance's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:ICICIGI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹22.77
BSE:540716 Share Price ** BSE (2019-04-18) in INR ₹1092.2
India Insurance Industry PE Ratio Median Figure of 9 Publicly-Listed Insurance Companies 38.79x
India Market PE Ratio Median Figure of 2,735 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ICICI Lombard General Insurance.

NSEI:ICICIGI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540716 Share Price ÷ EPS (both in INR)

= 1092.2 ÷ 22.77

47.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Lombard General Insurance is overvalued based on earnings compared to the IN Insurance industry average.
  • ICICI Lombard General Insurance is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does ICICI Lombard General Insurance's expected growth come at a high price?
Raw Data
NSEI:ICICIGI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 47.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
18.3%per year
India Insurance Industry PEG Ratio Median Figure of 8 Publicly-Listed Insurance Companies 2.64x
India Market PEG Ratio Median Figure of 584 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

NSEI:ICICIGI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 47.97x ÷ 18.3%

2.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Lombard General Insurance is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ICICI Lombard General Insurance's assets?
Raw Data
NSEI:ICICIGI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹118.90
BSE:540716 Share Price * BSE (2019-04-18) in INR ₹1092.2
India Insurance Industry PB Ratio Median Figure of 9 Publicly-Listed Insurance Companies 5.61x
India Market PB Ratio Median Figure of 3,626 Publicly-Listed Companies 1.12x
NSEI:ICICIGI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540716 Share Price ÷ Book Value per Share (both in INR)

= 1092.2 ÷ 118.90

9.19x

* Primary Listing of ICICI Lombard General Insurance.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Lombard General Insurance is overvalued based on assets compared to the IN Insurance industry average.
X
Value checks
We assess ICICI Lombard General Insurance's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. ICICI Lombard General Insurance has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ICICIGI Future Performance

 How is ICICI Lombard General Insurance expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ICICI Lombard General Insurance expected to grow at an attractive rate?
  • ICICI Lombard General Insurance's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • ICICI Lombard General Insurance's earnings growth is positive but not above the India market average.
  • ICICI Lombard General Insurance's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:ICICIGI Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:ICICIGI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 18.3%
NSEI:ICICIGI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 14.2%
India Insurance Industry Earnings Growth Rate Market Cap Weighted Average 17.1%
India Insurance Industry Revenue Growth Rate Market Cap Weighted Average 15.5%
India Market Earnings Growth Rate Market Cap Weighted Average 18.7%
India Market Revenue Growth Rate Market Cap Weighted Average 11.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:ICICIGI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:ICICIGI Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 188,702 27,763 1
2023-03-31 164,089 24,816 1
2022-03-31 140,294 19,914 2
2021-03-31 124,115 16,204 7
2020-03-31 104,943 13,253 7
2019-03-31 88,601 10,795 7
NSEI:ICICIGI Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 97,113 10,334
2018-09-30 93,124 10,260
2018-06-30 88,235 9,370
2018-03-31 84,567 23,898 8,618
2017-12-31 81,903 8,296
2017-09-30 79,773 8,181
2017-06-30 77,958 17,207 7,850
2017-03-31 75,248 16,278 7,019
2016-12-31 72,439 6,393
2016-09-30 68,607 5,491
2016-06-30 63,965 5,207
2016-03-31 60,340 5,115 5,053

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ICICI Lombard General Insurance's earnings are expected to grow by 18.3% yearly, however this is not considered high growth (20% yearly).
  • ICICI Lombard General Insurance's revenue is expected to grow by 14.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:ICICIGI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from ICICI Lombard General Insurance Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ICICIGI Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 43.85 45.20 42.50 2.00
2021-03-31 36.26 40.10 29.98 9.00
2020-03-31 29.51 31.40 26.70 10.00
2019-03-31 23.83 24.71 23.20 10.00
NSEI:ICICIGI Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 22.77
2018-09-30 22.60
2018-06-30 20.64
2018-03-31 19.01
2017-12-31 18.34
2017-09-30 18.16
2017-06-30 17.48
2017-03-31 15.66
2016-12-31 14.27
2016-09-30 12.27
2016-06-30 11.63
2016-03-31 11.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ICICI Lombard General Insurance is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess ICICI Lombard General Insurance's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ICICI Lombard General Insurance has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ICICIGI Past Performance

  How has ICICI Lombard General Insurance performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ICICI Lombard General Insurance's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ICICI Lombard General Insurance's year on year earnings growth rate has been positive over the past 5 years.
  • ICICI Lombard General Insurance's 1-year earnings growth exceeds its 5-year average (24.6% vs 17.7%)
  • ICICI Lombard General Insurance's earnings growth has exceeded the IN Insurance industry average in the past year (24.6% vs 23%).
Earnings and Revenue History
ICICI Lombard General Insurance's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ICICI Lombard General Insurance Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ICICIGI Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 97,112.59 10,333.92 17,816.26
2018-09-30 93,123.56 10,260.16 18,223.21
2018-06-30 88,234.59 9,369.56 19,968.70
2018-03-31 84,567.49 8,617.76 21,383.26
2017-12-31 81,903.09 8,295.80 22,493.83
2017-09-30 79,773.19 8,181.13 22,278.25
2017-06-30 77,957.97 7,850.05 21,417.10
2017-03-31 75,248.13 7,018.84 20,229.44
2016-12-31 72,438.53 6,392.80 19,378.89
2016-09-30 68,606.68 5,490.57 18,619.01
2016-06-30 63,964.61 5,206.79 17,862.77
2016-03-31 60,339.50 5,053.40 16,888.90
2015-12-31 57,677.14 5,179.13 16,245.08
2015-09-30 55,589.84 5,641.32 15,522.56
2015-06-30 53,456.49 5,789.17 15,613.46
2015-03-31 52,134.90 5,853.20 13,622.20
2014-12-31 51,631.36 4,823.22 13,299.79
2014-09-30 51,502.17 3,823.75 12,840.57
2014-06-30 50,903.95 4,043.65 11,538.59
2014-03-31 51,541.60 5,200.70 12,030.20
2013-12-31 51,121.34 4,957.31 12,138.68
2013-09-30 50,658.32 4,801.05 11,514.41
2013-06-30 48,319.52 3,929.40 11,074.51
2013-03-31 45,990.10 3,527.80 10,251.60
2012-12-31 44,565.81 -110.37 10,172.87
2012-09-30 43,150.91 -3,278.49 9,494.87
2012-06-30 41,792.51 -3,720.89 9,115.62

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ICICI Lombard General Insurance has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ICICI Lombard General Insurance used its assets more efficiently than the IN Insurance industry average last year based on Return on Assets.
  • ICICI Lombard General Insurance has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ICICI Lombard General Insurance's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ICICI Lombard General Insurance has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ICICIGI Health

 How is ICICI Lombard General Insurance's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up ICICI Lombard General Insurance's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ICICI Lombard General Insurance's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • ICICI Lombard General Insurance's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ICICI Lombard General Insurance's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 16.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ICICI Lombard General Insurance Company Filings, last reported 3 months ago.

NSEI:ICICIGI Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 53,987.10 7,450.87 17,363.20
2018-09-30 53,735.37 7,786.45 16,163.97
2018-06-30 53,966.37 6,978.24 19,283.47
2018-03-31 52,750.35 8,093.95 19,954.79
2017-12-31 52,560.71 7,695.56 12,888.07
2017-09-30 48,575.07 6,498.75 16,226.17
2017-06-30 46,430.50 6,614.40 22,681.60
2017-03-31 44,038.14 7,415.47 20,058.19
2016-12-31 39,572.91 7,351.63 15,105.69
2016-09-30 39,516.74 7,100.19 14,770.43
2016-06-30 37,439.04 1,725.09 13,697.09
2016-03-31 35,445.00 2,510.10 14,356.50
2015-12-31 34,351.28 1,663.55 19,323.03
2015-09-30 32,935.55 1,392.35 16,050.46
2015-06-30 32,254.63 1,223.72 18,329.67
2015-03-31 32,414.20 1,917.90 13,539.30
2014-12-31
2014-09-30 28,276.80 0.00 849.90
2014-06-30 24,948.60 1,477.82 18,516.27
2014-03-31 25,070.80 1,477.90 18,490.10
2013-12-31 24,948.60 1,477.82 18,516.27
2013-09-30 22,802.70 0.00 630.80
2013-06-30 22,802.70 0.00 630.80
2013-03-31 20,290.50 1,174.50 13,230.10
2012-12-31 20,281.38 1,368.69 13,240.09
2012-09-30 19,253.40 0.00 3,152.90
2012-06-30 19,253.40 0.00 3,152.90
  • ICICI Lombard General Insurance's level of debt (13.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.9% vs 13.8% today).
  • Debt is well covered by operating cash flow (320.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 33.8x coverage).
X
Financial health checks
We assess ICICI Lombard General Insurance's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. ICICI Lombard General Insurance has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ICICIGI Dividends

 What is ICICI Lombard General Insurance's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.46%
Current annual income from ICICI Lombard General Insurance dividends. Estimated to be 0.63% next year.
If you bought ₹2,000 of ICICI Lombard General Insurance shares you are expected to receive ₹9 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ICICI Lombard General Insurance's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.49%).
  • ICICI Lombard General Insurance's dividend is below the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:ICICIGI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
India Insurance Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 0.8%
India Market Average Dividend Yield Market Cap Weighted Average of 1399 Stocks 1.3%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:ICICIGI Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 7.65 2.00
2021-03-31 7.45 10.00
2020-03-31 6.07 10.00
2019-03-31 4.98 10.00
NSEI:ICICIGI Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-10-22 5.000 0.561
2018-06-21 4.000 0.515
2018-04-25 4.000 0.543
2017-10-17 1.500 0.197
2017-09-27 3.500 0.510

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, ICICI Lombard General Insurance has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but ICICI Lombard General Insurance only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of ICICI Lombard General Insurance's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.5x coverage).
X
Income/ dividend checks
We assess ICICI Lombard General Insurance's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ICICI Lombard General Insurance afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ICICI Lombard General Insurance has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ICICIGI Management

 What is the CEO of ICICI Lombard General Insurance's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bhargav Dasgupta
COMPENSATION ₹53,270,000
AGE 52
TENURE AS CEO 9.9 years
CEO Bio

Mr. Bhargav Dasgupta, PGDM, IIM Bangalore, B.E. (Mechanical), has been the Chief Executive Officer and Managing Director at ICICI Lombard General Insurance Company Limited since May 1, 2009. Mr. Dasgupta served as a Senior General Manager at ICICI Bank Ltd., from 2003 to October 2006. He joined ICICI in 1992 in the Project Finance Department and was in charge of International Banking Group. Mr. Dasgupta had been with ICICI Bank. He began his stint with ICICI in 1992 in the Projects & Corporate Finance Division. Since then, he has held key leadership positions in diverse business areas of ICICI Bank. From being Deputy Head of the Oil & Gas Strategic Business Unit to setting up the Technology Management Group, Mr. Dasgupta moved on to develop the strategic plan for ICICI Bank' Business Process Outsourcing and International Banking initiatives as Head of Strategy. In 2002, he was given the operational responsibility of setting up the International Banking Group. In this position, he was responsible for all operations of the overseas offices, branches and subsidiaries of ICICI Bank, covering the retail, private client, corporate and treasury operations of ICICI Bank in the international market. In 2005, Mr. Dasgupta was given an additional responsibility of the Global Markets Group. After completed his engineering course, he worked with Tata Motors from 1988 to 1990. He has been a Director of ICICI Lombard General Insurance Company Limited since May 1, 2009. He served as Executive Director of ICICI Prudential Life Insurance Company Ltd. from October 24, 2006 to April 30, 2009. He served as an Executive Director of ICICI Bank Ltd., since October 24, 2006. He served as a Director of ICICI Bank UK PLC. Mr. Dasgupta is an Engineer and has a Post Graduate Diploma in Management and Business Administration from Indian Institute of Management, Bangalore and B.E. in Mechanical Engineering from Jadhavpur University.

CEO Compensation
  • Bhargav's compensation has been consistent with company performance over the past year.
  • Bhargav's remuneration is about average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the ICICI Lombard General Insurance management team in years:

7.5
Average Tenure
47
Average Age
  • The average tenure for the ICICI Lombard General Insurance management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bhargav Dasgupta

TITLE
MD, CEO & Director
COMPENSATION
₹53M
AGE
52
TENURE
9.9 yrs

Gopal Balachandran

TITLE
CFO & Chief Risk Officer
COMPENSATION
₹75M
AGE
42
TENURE
7.5 yrs

Alok Agarwal

TITLE
Chief Marketing Officer-Wholesale & Executive Director
COMPENSATION
₹30M
AGE
51

Sanjeev Mantri

TITLE
Chief Marketing Officer of Retail & Executive Director
COMPENSATION
₹32M
AGE
47

Vikas Mehra

TITLE
Company Secretary
COMPENSATION
₹7M
AGE
47

Girish Nayak

TITLE
Chief Customer Service
AGE
48

Vinod Mahajan

TITLE
Chief Investment Officer
TENURE
0.5 yrs

Lokanath Kar

TITLE
Chief Compliance Officer
AGE
47

Jerry Jose

TITLE
Head of Human Resources
AGE
46

Palepu Sarma

TITLE
Head of Government Department
AGE
60
Board of Directors Tenure

Average tenure and age of the ICICI Lombard General Insurance board of directors in years:

2.9
Average Tenure
52
Average Age
  • The average tenure for the ICICI Lombard General Insurance board of directors is less than 3 years, this suggests a new board.
Board of Directors

Lalita Gupte

TITLE
Non-Executive Chairperson of the Board
COMPENSATION
₹2M
AGE
70
TENURE
0.5 yrs

Bhargav Dasgupta

TITLE
MD, CEO & Director
COMPENSATION
₹53M
AGE
52
TENURE
9.9 yrs

Alok Agarwal

TITLE
Chief Marketing Officer-Wholesale & Executive Director
COMPENSATION
₹30M
AGE
51
TENURE
8.3 yrs

Sanjeev Mantri

TITLE
Chief Marketing Officer of Retail & Executive Director
COMPENSATION
₹32M
AGE
47
TENURE
3.9 yrs

Ashvin Parekh

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
65
TENURE
5 yrs

Uday Chitale

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
69
TENURE
3 yrs

Suresh Kumar

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
67
TENURE
2.8 yrs

Vishakha Mulye

TITLE
Non-Executive Non-Independent Director
AGE
49
TENURE
0.5 yrs

Ved Chaturvedi

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
52
TENURE
2.8 yrs

Vishal Mahadevia

TITLE
Independent Non-Executive Director
AGE
45
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • ICICI Lombard General Insurance insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
03. Apr 19 Sell Amitabh Jain Individual 29. Mar 19 29. Mar 19 -2,000 ₹1,020.50 ₹-2,041,000
01. Apr 19 Sell Amitabh Jain Individual 26. Mar 19 26. Mar 19 -1,226 ₹821.37 ₹-1,007,000
28. Mar 19 Sell Amitabh Jain Individual 22. Mar 19 22. Mar 19 -1,226 ₹1,001.37 ₹-1,227,680
25. Mar 19 Sell Nitin Firke Individual 22. Mar 19 22. Mar 19 -10,000 ₹1,001.00 ₹-10,010,000
11. Mar 19 Buy Amitabh Jain Individual 19. Feb 19 19. Feb 19 5 ₹918.00 ₹4,590
06. Mar 19 Sell Alok Agarwal Individual 06. Mar 19 06. Mar 19 -25,000 ₹965.00 ₹-24,125,000
26. Feb 19 Sell Deepak Mahaur Individual 21. Feb 19 22. Feb 19 -2,000 ₹930.00 ₹-1,853,830
22. Feb 19 Sell Amitabh Jain Individual 14. Feb 19 19. Feb 19 -1,500 ₹923.00 ₹-1,370,912
07. Feb 19 Sell Vinod Mahajan Individual 06. Feb 19 06. Feb 19 -4,000 ₹902.00 ₹-3,608,000
07. Feb 19 Sell Alok Agarwal Individual 05. Feb 19 05. Feb 19 -25,000 ₹881.00 ₹-22,024,998
05. Feb 19 Sell Avinash Patil Individual 31. Jan 19 31. Jan 19 -1,600 ₹880.00 ₹-1,408,000
08. Jan 19 Sell Abhishek Srivastava Individual 18. Dec 18 18. Dec 18 -1,300 ₹912.38 ₹-1,186,100
13. Dec 18 Sell Sahil Kangotra Individual 03. Dec 18 03. Dec 18 -5,700 ₹895.00 ₹-5,101,500
12. Dec 18 Sell Avinash Patil Individual 03. Dec 18 03. Dec 18 -5,345 ₹850.00 ₹-4,543,250
12. Dec 18 Sell Birendra Mohanty Individual 11. Dec 18 11. Dec 18 -10,000 ₹848.81 ₹-8,488,100
06. Dec 18 Buy Vijay Batra Individual 29. Nov 18 29. Nov 18 48,800 ₹0.00 ₹34
05. Dec 18 Sell Sanjay Datta Individual 03. Dec 18 03. Dec 18 -24,990 ₹833.00 ₹-20,816,669
04. Dec 18 Sell Sanjay Datta Individual 30. Nov 18 30. Nov 18 -24,950 ₹814.73 ₹-20,327,513
26. Jul 18 Sell Alok Shukla Individual 23. Jul 18 23. Jul 18 -10,000 ₹780.00 ₹-7,800,000
05. Oct 18 Sell Sandeep Bakhshi Individual 03. Oct 18 03. Oct 18 -242,250 ₹790.57 ₹-191,515,063
03. Oct 18 Buy Prarthna Marketing Private Limited Company 28. Sep 18 28. Sep 18 3,800 ₹523.15 ₹1,987,975
01. Oct 18 Sell Birendra Mohanty Individual 28. Sep 18 28. Sep 18 -4,557 ₹834.38 ₹-3,802,269
26. Sep 18 Sell Rajesh Rai Individual 05. Sep 18 05. Sep 18 -1,000 ₹820.50 ₹-820,500
26. Sep 18 Sell Soundarajan GopalaKrishnan Individual 24. Sep 18 24. Sep 18 -25,000 ₹850.87 ₹-21,271,749
07. Sep 18 Sell Birendra Mohanty Individual 05. Sep 18 05. Sep 18 -5,443 ₹831.11 ₹-4,523,732
05. Sep 18 Sell Vinod Philip Individual 23. Jul 18 05. Sep 18 -2,000 ₹803.00 ₹-1,606,000
04. Sep 18 Sell Shobhit Mehrotra Individual 30. Aug 18 30. Aug 18 -4,189 ₹1,838.57 ₹-7,701,770
04. Sep 18 Sell Miten Lathia Individual 31. Aug 18 31. Aug 18 -10,000 ₹1,813.26 ₹-18,132,599
04. Sep 18 Sell Anupam Joshi Individual 31. Aug 18 31. Aug 18 -5,529 ₹1,824.19 ₹-10,085,946
23. Aug 18 Buy Ektha.Com Pvt Ltd Company 07. Aug 18 09. Aug 18 42,000 ₹105.53 ₹4,432,426
21. Aug 18 Sell Gaurav Arora Individual 16. Aug 18 16. Aug 18 -2,000 ₹799.00 ₹-1,598,000
21. Aug 18 Sell Soundarajan GopalaKrishnan Individual 20. Aug 18 20. Aug 18 -25,000 ₹802.00 ₹-20,049,998
20. Aug 18 Sell Sandeep Goradia Individual 17. Aug 18 17. Aug 18 -5,000 ₹795.00 ₹-3,975,000
20. Aug 18 Sell Girish Nayak Individual 17. Aug 18 17. Aug 18 -1,280 ₹792.26 ₹-1,014,093
08. Aug 18 Sell J. Prasad Individual 20. Jul 18 20. Jul 18 -413 ₹780.45 ₹-322,326
06. Aug 18 Sell Gaurav Arora Individual 02. Aug 18 02. Aug 18 -1,632 ₹785.00 ₹-1,281,120
02. Aug 18 Sell Birendra Mohanty Individual 31. Jul 18 31. Jul 18 -4,999 ₹783.00 ₹-3,914,217
02. Aug 18 Sell Gaurav Arora Individual 25. Jul 18 31. Jul 18 -1,868 ₹788.83 ₹-1,473,532
26. Jul 18 Sell Venu Matoory Individual 23. Jul 18 23. Jul 18 -3,000 ₹785.32 ₹-2,355,960
26. Jul 18 Sell Girish Nayak Individual 24. Jul 18 24. Jul 18 -1,742 ₹784.92 ₹-1,367,331
26. Jul 18 Sell Birendra Mohanty Individual 24. Jul 18 24. Jul 18 -2,500 ₹790.00 ₹-1,975,000
26. Jul 18 Sell Sandeep Goradia Individual 24. Jul 18 24. Jul 18 -5,000 ₹795.00 ₹-3,975,000
26. Jul 18 Sell Rajesh Rai Individual 23. Jul 18 26. Jul 18 -2,000 ₹794.50 ₹-1,589,000
26. Jul 18 Sell Vikas Mehra Individual 24. Jul 18 24. Jul 18 -3,000 ₹790.00 ₹-2,370,000
24. Jul 18 Sell Nitin Firke Individual 20. Jul 18 20. Jul 18 -10,000 ₹771.00 ₹-7,710,000
24. Jul 18 Sell Alok Agarwal Individual 23. Jul 18 23. Jul 18 -25,000 ₹782.00 ₹-19,550,000
24. Jul 18 Sell Birendra Mohanty Individual 20. Jul 18 20. Jul 18 -3,008 ₹792.00 ₹-2,382,336
24. Jul 18 Sell Gaurav Arora Individual 20. Jul 18 20. Jul 18 -2,500 ₹785.00 ₹-1,962,500
24. Jul 18 Sell Rajesh Rai Individual 19. Jul 18 20. Jul 18 -1,000 ₹760.00 ₹-760,000
24. Jul 18 Sell J. Prasad Individual 20. Jul 18 20. Jul 18 -24,587 ₹780.31 ₹-19,185,511
24. Jul 18 Sell Soundarajan GopalaKrishnan Individual 20. Jul 18 20. Jul 18 -25,000 ₹775.00 ₹-19,374,999
X
Management checks
We assess ICICI Lombard General Insurance's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. ICICI Lombard General Insurance has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ICICIGI News

Simply Wall St News

With A Return On Equity Of 19%, Has ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) Management Done Well?

We'll use ROE to examine ICICI Lombard General Insurance Company Limited (NSE:ICICIGI), by way of a worked example. … ICICI Lombard General Insurance has a ROE of 19%, based on the last twelve months. … Check out our latest analysis for ICICI Lombard General Insurance?

Simply Wall St -

Does ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) August Stock Price Reflect Its Future Growth?

ICICI Lombard General Insurance Company Limited (NSE:ICICIGI) is considered a high-growth stock, but its last closing price of ₹790.85 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … See our latest analysis for ICICI Lombard General Insurance? … If you are bullish about ICICI Lombard General Insurance's growth potential then you are certainly not alone

Simply Wall St -

How Much Did ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) CEO Pocket Last Year?

Leading ICICI Lombard General Insurance Company Limited (NSE:ICICIGI) as the CEO, Bhargav Dasgupta took the company to a valuation of ₹357.70b. … Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … CEOs leading companies of similar size and profitability

Simply Wall St -

Did ICICI Lombard General Insurance Company Limited (NSE:ICICIGI) Create Value For Shareholders?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between ICICI Lombard General Insurance Company Limited (NSE:ICICIGI)’s return fundamentals and stock market performance. … ICICI Lombard General Insurance Company Limited (NSE:ICICIGI) delivered an ROE of 16.34% over the past 12 months, which is relatively in-line with its industry average of 14.99% during the same period.

Simply Wall St -

Want To Invest In ICICI Lombard General Insurance Company Limited (NSE:ICICIGI)? Here's How It Performed Lately

Assessing ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how ICICI Lombard General Insurance is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its insurance industry peers. … Check out our latest analysis for ICICI Lombard General Insurance?

Simply Wall St -

A Holistic Look At ICICI Lombard General Insurance Company Limited (NSE:ICICIGI)

Attractive stocks have exceptional fundamentals. … In the case of ICICI Lombard General Insurance Company Limited (NSE:ICICIGI), there's … company with

Simply Wall St -

Will ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) Earnings Grow Over The Next Year?

Looking at ICICI Lombard General Insurance Company Limited's (NSEI:ICICIGI) earnings update in March 2018, analysts seem fairly confident, with profits predicted to increase by 28.95% next year, though this is comparatively lower than the previous 5-year average earnings growth of 33.32%. … Below is a brief commentary on the longer term outlook the market has for ICICI Lombard General Insurance. … The intrinsic value infographic in our free research report helps visualize whether ICICI Lombard General Insurance is currently mispriced by the market.

Simply Wall St -

What Do Analysts Think About ICICI Lombard General Insurance Company Limited's (NSE:ICICIGI) Growth?

In March 2018, ICICI Lombard General Insurance Company Limited (NSEI:ICICIGI) announced its most recent earnings update, which signalled that the company benefited from a robust tailwind, leading to a double-digit earnings growth of 34.27%. … Below, I've laid out key numbers on how market analysts perceive ICICI Lombard General Insurance's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … Check out our latest analysis for ICICI Lombard General Insurance Analysts' expectations for the coming year seems buoyant, with earnings climbing by a robust 28.95%.

Simply Wall St -

Is Now The Right Time To Buy ICICI Lombard General Insurance Company Limited (NSE:ICICIGI)?

ICICI Lombard General Insurance Company Limited (NSEI:ICICIGI) closed yesterday at ₹754.6, which left some investors asking whether the high earnings potential can still be justified at this price. … This illustrates that ICICI Lombard General Insurance is overvalued compared to the IN market average ratio of 24.9x , and undervalued based on its latest annual earnings update compared to the insurance average of 44.23x. … A PE ratio of 44.23x and expected year-on-year earnings growth of 22.15% give ICICI Lombard General Insurance a higher PEG ratio of 2x.

Simply Wall St -

Is ICICI Lombard General Insurance Company Limited (NSE:ICICIGI) Still A Cheap Financial Stock?

ICICI Lombard General Insurance Company Limited (NSEI:ICICIGI), a ₹348.84B mid-cap, is an insurance company operating in an industry, which has recently experienced the impact of a softening commercial lines market, a problematic personal lines segment, and a low-yield investment climate. … Below, I will examine the sector growth prospects, and also determine whether ICICI Lombard General Insurance is a laggard or leader relative to its financial sector peers. … See our latest analysis for ICICI Lombard General Insurance What’s the catalyst for ICICI Lombard General Insurance's sector growth?

Simply Wall St -

ICICIGI Company Info

Description

ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. It offers fire, engineering, hull, aviation, motor, casualty, health, travel, energy, personal accident, marine, liability, home, rural, and credit insurance products and services. The company also provides reinsurance, insurance claims management, and investment management services. It serves conglomerates, small and medium enterprises, state and central governments or government-owned enterprises, rural customers, and individual customers through various channels, such as agents, brokers, bancassurance, telesales, direct alliances, and online platforms. ICICI Lombard General Insurance Company Limited has a strategic partnership with One Mobikwik Systems Private Limited to provide cyber-insurance cover. The company was incorporated in 2000 and is based in Mumbai, India. ICICI Lombard General Insurance Company Limited is a subsidiary of ICICI Bank Limited.

Details
Name: ICICI Lombard General Insurance Company Limited
ICICIGI
Exchange: NSEI
Founded: 2000
₹493,766,762,636
454,309,944
Website: http://www.icicilombard.com
Address: ICICI Lombard General Insurance Company Limited
ICICI Lombard House,
414, Veer Savarkar Marg,
Mumbai,
Maharashtra, 400025,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540716 Equity Shares Mumbai Stock Exchange IN INR 27. Sep 2017
NSEI ICICIGI Equity Shares National Stock Exchange of India IN INR 27. Sep 2017
Number of employees
Current staff
Staff numbers
6,849
ICICI Lombard General Insurance employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 13:07
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/01/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.