ICICI Lombard General Insurance gains 1.11 per cent on better premium growth

ILOM was the first private General Insurance company to get listed on BSE & NSE

ICICI Lombard General Insurance (ILOM) was up throughout in today’s trade despite the market showing weakness in the first half of the trade.  The reason for such performance was better premium numbers posted by the company for the month of May 2022. As per IRDA data ILOM’s premium grew 34 per cent in May 2022 (Y-o-Y) compared to industry growth of just 25%.

ILOM was the first private General Insurance company to get listed on BSE & NSE (September 2017), the Rs 5,700 crore issue and was subscribed three times.

The stock closed at Rs 1,120 i.e. around 33% below its 52 week high, while the benchmark index is currently trading at 11 per cent lower than its 52 week high. At current levels the ILOM stock is trading close to its 52 week low of Rs 1104, which might me worth looking given its strong performance recently.

ILOM has a diversified portfolio which allows them to twist the product mix as per the market requirements while maintaining profitability. In just 5 years the institutional holding has increased 2x to 40.61% in March 2022.

The company has been rewarding its shareholders with consistent dividend (with 2020 being an aberration) since listing. During 2021 the company’s dividend pay-out stood at ₹12 per share or 120% of face value of Rs 10.