ICICI Lombard General Insurance Company (ICICIGI) Fair Value & Analysis
Financial Services · IN · Market cap ₹811B
Fair value as of: Aug 13, 2026
From 6 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from ₹721.66 to ₹589.67 (−18.3%) since Jul 17, 2026. Share price −10.2% over the past month.
A solid business, but screening 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹737.09). The favourable scenario is already priced in.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹1,033 – ₹2,244 · fair‑value band ₹442.26 – ₹737.09 · the ₹1,630 price screens above the ₹589.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
ICICI Lombard General Insurance Company (ICICIGI) currently trades at ₹1,630, while our model-based Fair Value estimate is ₹589.67, implying the stock looks roughly 63.8% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, ICICI Lombard General Insurance Company generated revenue of ₹270B at a net margin of 10.3%. Revenue grew 12.2% year over year. It earns a return on equity of 17.9%. The balance sheet holds a net cash position of ₹9.8B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹442.26 (bear case) to ₹737.09 (bull case); at ₹1,630, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -30% fair-value upside, at -64%, ICICIGI screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Economic Profit (₹536.43) versus Dividend Discount (₹45.14). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 42
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The company primarily offers fire, marine, cargo, engineering, aviation, public/product liability, employee group, workmen's compensation, cyber, personal accident, and travel insurance solutions.
Full company description
ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The company primarily offers fire, marine, cargo, engineering, aviation, public/product liability, employee group, workmen's compensation, cyber, personal accident, and travel insurance solutions. It also provides credit, crop, cattle, weather, mass health, and motor, as well as home insurance solutions. In addition, the company offers underwriting and claims, customer relationship, technology, operations, finance and accounts, human resources, , actuarial, marketing, business analytics, administration, and fraud control, as well as reinsurance solutions. It serves its customers comprising individuals, corporates, state and central governments, government-owned enterprises, and rural customers, as well as micro, small, and medium enterprises through agents, brokers, bancassurance, motor insurance service providers, and online platforms. The company was incorporated in 2000 and is based in Mumbai, India. ICICI Lombard General Insurance Company Limited operates as a subsidiary of ICICI Bank Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
ICICI Lombard General Insurance Company reported revenue of ₹271B in FY2026 versus ₹166B in FY2022, a compound +13.1%/yr. Reported net income was ₹27.7B in FY2026, compounding +21.5%/yr from FY2022.
of which total revenue +15.0 pp · buybacks/dilution −1.3 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
ICICIGI screens 64% overvalued. Compare with Berkshire Hathaway Inc →
Peer Group
Insurance - Diversified · 84 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Diversified median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Berkshire Hathaway Inc BRKB | 8,562 MXN | 10,429 MXN | +22% |
| Allianz SE ALV | €437.80 | €266.04 | -39% |
| Zurich Insurance Group ZURN | CHF 589.20 | CHF 392.99 | -33% |
| AXA SA AXAN | 888.28 MXN | 623.98 MXN | -30% |
| Assicurazioni Generali S.p.A G | €43.88 | €13.91 | -68% |
| BB Seguridade Participações S.A BBSE3 | R$37.26 | R$33.94 | -9% |
| Tryg A/S TRYG | kr 151.70 | kr 67.88 | -55% |
| PT Sinar Mas Multiartha Tbk SMMA | 20,175 IDR | 4,617 IDR | -77% |
| The New India Assurance Company NIACL | ₹181.09 | ₹128.57 | -29% |
| Seoul Guarantee Insurance Co 031210 | 44,150 KRW | 56,679 KRW | +28% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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