BUZZ-India's ICICI Lombard falls after surprise profit drop

Reuters
04-16
BUZZ-India's ICICI Lombard falls after surprise profit drop

** Shares of ICICI Lombard General Insurance ICIL.NS fall 3.9% to 1752 rupees

** Non-life insurer posts surprise Q4 profit drop on surge in claims, accounting change

** Jefferies ("buy", TP 2170 rupees) says co, peers may face continued pressure in motor segment as state-owned insurers’ aggressive pricing disrupts market dynamics, although this weakness is likely to normalize over time

** Ambit Capital ("sell", TP 1385 rupees) expects FY26 premium growth to be muted due to factors including muted growth expectations in passenger vehicles & commercial vehicles

** Analysts' avg rating on stock is "buy", median PT is 2100 rupees - data compiled by LSEG

** Stock down 1.4% YTD

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

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