ICICI Lombard General Insurance Company (ICICIGI) Q4 14/15 earnings summary

Executive summary

• FY2015 prioritized sustainable, profitable growth amid subdued industry expansion; GWP declined marginally, while PBT rose 32.8% and the combined ratio improved to 104.5%.

• Retained 19.0% share of private-sector general insurance and 8.3% of the overall industry; policies issued rose 23.6% to 13.87 million.

Financial highlights

• GWP was ₹69.14bn vs ₹71.34bn in FY2014; net earned premium was ₹42.35bn vs ₹43.53bn.

• PBT rose 32.8% to ₹6.91bn; PAT increased to ₹5.36bn from ₹5.11bn, and EPS was ₹12.03 basic and ₹11.93 diluted.

• Investment income increased to ₹9.28bn from ₹7.88bn; total income from investments was ₹9.28bn, with realised return of 10.29% and total return of 17.84%.

Outlook and guidance

• FY2016 priorities include expanding digital and mobile services, using data analytics to improve claims and processes, and developing risk-mitigation and wellness offerings.

• Management expected improved macroeconomic conditions, corporate earnings and consumer sentiment to support a return to double-digit industry growth; no numerical company guidance was stated.