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

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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.