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ICICI Lombard General Insurance Company Ltd - Financial Highlights for Q4, FY 2018-19

Posted On: 2019-04-18 18:44:00

ICICI Lombard General Insurance Company Limited has announced the financial results for the quarter and year ended March 31, 2019.

- Gross Direct Premium Income (GDPI) of the Company increased to 144.88 billion in FY2019 compared to 123.57 billion in FY2018, registering a growth of 17.2% as against industry growth of 12.9%.

- GDPI of the Company increased to 34.85 billion in Q4 FY2019 compared to 29.26 billion in Q4 FY2018, registering a growth of 19.1% as against industry growth of 12.6%. Excluding crop segment, our GDPI growth for Q4 FY2019 was 29.4% over Q4 FY2018.

- Combined ratio improved to 98.5% in FY2019 from 100.2% in FY2018.

- Combined ratio improved to 98.0% in Q4 FY2019 from 99.5% in Q4 FY2018.

- Profit before tax (PBT) grew by 33.6% to 15.98 billion in FY2019 compared to 11.96 billion in FY2018 while Profit after tax (PAT) grew by 21.8% to 10.49 billion in FY2019 as against 8.62 billion in FY2018.

- PBT for Q4 FY2019 grew by 20.3% to 3.45 billion as compared to 2.87 billion in Q4 FY2018, while PAT for Q4 FY2019 grew by 7.5% to 2.28 billion compared to 2.12 billion in Q4 FY2018. PBT for Q4 FY2019 includes upfront expensing of acquisition cost related to the growth of 29.4% in GDPI (excluding crop segment) whereas the full benefit of earned premium will be realized over the policy period.

The Company paid an interim dividend of 2.50 per share during the year. The Board of Directors of the Company has proposed final dividend of 3.50 per share for FY2019. The payment is subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. The overall dividend for FY2019 including proposed final dividend is 6.00 per share.

- Return on Average Equity (ROAE) was 21.3% in FY2019 compared to 20.8% in FY2018.

- ROAE was 17.5% in Q4 FY2019 compared to 19.1% in Q4 FY2018 on account of upfront expensing of acquisition cost related to the growth of 29.4% in GDPI (excluding crop segment) whereas the full benefit of earned premium will be realized over the policy period.

- Solvency ratio was 2.24x at March 31, 2019 as against 2.12x at December 31, 2018 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.05x at March 31, 2018.

Shares of ICICI Lombard General Insurance Company Ltd was last trading in BSE at Rs.1092.2 as compared to the previous close of Rs. 1086.85. The total number of shares traded during the day was 13710 in over 2036 trades.

The stock hit an intraday high of Rs. 1098 and intraday low of 1070.6. The net turnover during the day was Rs. 14906354.


Source: Equity Bulls

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