HDFC Securities bullish on ICICI Lombard amid strong demand outlook
The brokerage mentioned that the general insurance player logged an increase in net premiums earned (NEP) which stood ahead of estimates at Rs 3,840 crore, given the sharp uptick in health as well as crop segments. Furthermore, loss ratios in the health segment moved higher up over 81% on a quarter-on-quarter basis. Also normalization of road traffic after Covid-led disruption together with the pricing pressure pushed claims ratio in the motor own damage (OD) space.