Here are the numbers to take your call on the company.
ICICI Lombard issue opens on September 15 and closes on September 19. The company is issuing shares of face value 10 in the price band of Rs 651-661.
About ICICI Lombard
ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and
Fairfax Financial. It is the largest private sector non-life insurer in India in terms of Gross Direct Premium Income (GDPI).
In FY17, ICICI Lombard issued 17.7 million policies. Its GDPI stood at Rs107.25bn, representing a market share of 8.4% among all non‐life insurers in India and 18.0% among private‐sector non‐life insurers.
In the three months ended June 30, 2017, the company issued ~5.2 million policies and its GDPI was Rs33.2bn, representing a market share of 10% among all non‐life insurers in India and 20.2% among private‐sector non‐life insurers in India, according to provisional IRDAI numbers.
Products and services
ICICI Lombard offers fire, engineering, hull, aviation, motor, casualty, health, travel, energy, personal accident, marine, liability, home, rural, and credit insurance products and services. It’s product mix also includes reinsurance, insurance claims management.
| Product Mix | |
|---|---|
| Motor OD | 18.6% |
| Motor TP | 20.8% |
| Health | 26.9% |
| Crop | 16.1% |
| Fire | 7.5 % |
| Marine | 2.3% |
| Other | 7.8% |
| AUM (Rs bn) | |
|---|---|
| FY15 | 102 |
| FY16 | 115.6 |
| FY17 | 150.8 |
| 3MFY18 | 164.5 |
| Key Ratios | |||||
|---|---|---|---|---|---|
| Particulars (%) | FY14 | FY15 | FY16 | FY17 | 3m FY18 |
| GDPI growth | 11.8 | -2.6 | 21.2 | 32.6 | 15.3 |
| PAT growth | 47.4 | 12.5 | -13.7 | 27 | 66 |
| Retention Ratio | 62.7 | 63.8 | 65.5 | 60.2 | 59.7 |
| Net Commission Ratio | -5.1 | -7.8 | -6 | -6.6 | -5.1 |
| Loss Ratio | 83.4 | 81.4 | 81.6 | 80.6 | 78.1 |
| Expense of Management to NWP | 33.6 | 38.1 | 37.9 | 36.7 | 36.1 |
| Combined Ratio | 105.3 | 104.9 | 107.1 | 104.1 | 102.4 |
| Operating Profit Ratio | 9.4 | 13 | 9.5 | 10.8 | 12.6 |
| RoE (annualized) | 21.7 | 20.3 | 15.6 | 17.2 | 21.9 |
| Solvency | 172 | 195 | 182 | 210 | 213 |
The size of the Indian non‐life insurance sector was Rs1.28tn on a GDPI basis as of 31st March 2017. Indian non‐life insurance sector GDPI grew at a CAGR of 17.4% between FY01 and FY17. According to Swiss Re, India was fifteenth largest market in the world and the fourth largest market in Asia in 2016, behind China, Japan and South Korea. India was also amongst the fastest growing non‐life insurance markets over 2011‐2016, growing at 14.5% (as per Swiss Re). Despite its size and growth profile, India continues to be an underpenetrated market.
Issue details
IPO size: Rs.5700 crores
Face value: Rs.10
Retail portion: 35%
Lot size: 22 shares and in multiples thereafter
Maximum subscription amount: Rs.2,00,000
Listing on: both NSE and BSE
IPO schedule
Basis of Allotment: September 22
Refund of application amount: September 25
Credit of shares to demat accounts: September 26
Listing: September 27
To apply for an IPO follow these steps
Keep track of all the upcoming IPOs here
Allotment details can be checked here.