9M2023 Performance Review
Agenda
- Company Strategy
- Financial Performance
- ESG Initiatives
- Industry Overview
Agenda
- Company Strategy
- Financial Performance
- ESG Initiatives
- Industry Overview
ICICI Lombard General Insurance - Pillars of Strength
Consistent Market
Leadership and
growth
- Leading private sector non-life insurer in India since FY2004 (GDPI basis)
- 14 years GDPI CAGR (FY2008 - FY2022) for IL: 12.9%
- Market share 9M2023 (GDPI basis): 8.6%
Diverse products and multi-channel distribution
- Comprehensive and diverse product portfolio
- Individual Agents* 1,06,119
- Expanding distribution network to increase penetration in Tier 3 and Tier 4 cities
- Number of Virtual Offices: 908
Excellence in
Customer service and Technology
- Leveraging on Artificial Intelligence, Machine Learning, IoT etc. throughout the customer life cycle
- Dedicated "digital arm" to improve speed of delivery for D2C business
Risk
Management
- Profitable growth using risk selection and data analytics
- Maintain robust reserves
- Prudent investment management
Capital
Conservation
- Maintain high level of Solvency ratio as against regulatory minimum requirement of 1.50x
- Solvency ratio 2.45x as at December 31, 2022
*including POS | IoT - Internet of Things | 4 |
Key Highlights
Particulars | FY2021 | FY2022 | 9M2022 | 9M2023 |
(₹ billion) | Actual | Actual | Actual | Actual |
Gross Written Premium | 143.20 | 185.62 | 135.62 | 164.32 |
Gross Direct Premium Income (GDPI) | 140.03 | 179.77 | 133.11 | 160.48 |
GDPI Growth | 5.2% | 28.4% | 26.5% | 20.6% |
Combined Ratio | 99.8% | 108.8% | 111.0% | 104.6% |
Profit after Tax | 14.73 | 12.71 | 9.59 | 12.92* |
Return on Average Equity | 21.7% | 14.7% | 15.1% | 18.1% |
Solvency Ratio | 2.90x | 2.46x | 2.45x | 2.45x |
Book Value per Share | 163.56 | 185.57 | 179.12 | 202.68 |
Basic Earnings per Share | 32.41 | 25.91 | 19.54 | 26.31 |
*PAT includes reversal of tax provision of ₹ 1.28 billion in Q22023
Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable
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Disclaimer
ICICI Bank Ltd. published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 13:20:05 UTC.