# ICICI Lombard General Insurance (NSE: ICICIGI) share analysis

Canonical: https://vestmind.in/stocks/icici-lombard-general-insurance  
Source: VestCall by Vestmind, price as of 14 October 2026.

> ICICI Lombard General Insurance (NSE: ICICIGI) was trading at ₹1,716 on 14 October 2026. VestCall scores its business health 71/100 (healthy). On valuation, the price sits in the “Fairly Valued” zone (₹1,673.51 – ₹1,724.5) — inside the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.

## Valuation zones

| Zone | Price band | Meaning |
| --- | --- | --- |
| Deeply Discounted | ₹1,518.76 – ₹1,617.33 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹1,617.33 – ₹1,673.51 | Below the modelled fair-value range |
| Fairly Valued (current) | ₹1,673.51 – ₹1,724.5 | Inside the modelled fair-value range |
| Valuation Premium | ₹1,724.5 and above | Above the modelled fair-value range |

## The case for and against

- Supports — Growth 85/100
- Supports — Shareholding Quality 83/100
- Supports — Management Stability 65/100
- Needs proof — Business Quality 54/100
- Needs proof — Financial Strength 56/100

## Key ratios

| Ratio | ICICI Lombard General Insurance | Sector median |
| --- | --- | --- |
| P/E | 9.88x | — |
| P/S | 2.18x | — |
| Operating margin | 9.9% | — |
| Net margin | 10.9% | — |
| Current ratio | 0.27x | — |

## Bull, base and bear case (model outputs, not forecasts)

| Scenario | Modelled CAGR | Weight | Assumption |
| --- | --- | --- | --- |
| Bear | +1.7% | 20% | Growth decelerates to 5.7% and the multiple de-rates toward the cohort's trough. |
| Base | +15.8% | 54% | Earnings compound near the measured 15.8% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +25.7% | 26% | Growth holds at 22.2% and the market pays the full premium the measured quality supports. |

## Questions

### Is ICICI Lombard General Insurance overvalued or undervalued?

At ₹1,716, ICICI Lombard General Insurance sits in VestCall’s “Fairly Valued” zone (₹1,673.51 – ₹1,724.5): inside the modelled fair-value range. Its valuation scores 82/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.

### Is ICICI Lombard General Insurance fundamentally strong?

VestCall scores ICICI Lombard General Insurance’s business health 71/100 (healthy). The strongest measured pillars are growth and shareholding quality. The ones that need proof are business quality and financial strength. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.

### What is ICICI Lombard General Insurance’s P/E ratio?

ICICI Lombard General Insurance trades at a P/E of 9.88x, on VestCall’s latest read. A multiple only means something against the business it buys: the quality-adjusted fair value on this page weighs it against ICICI Lombard General Insurance’s returns and growth.

### What are the risks of investing in ICICI Lombard General Insurance?

The review triggers VestCall watches for ICICI Lombard General Insurance are: revenue growth falls below the thesis floor (revenue cagr below 8%); promoter holding drops materially (promoter holding below 48.29%, 3 points under the Mar 2026 filing); price runs more than two sigma above its own trend (price vs 200-day average at or above 2540.25). On the fundamentals, business quality is the weakest measured pillar at 54/100. A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.

### Is this a recommendation to buy or sell ICICI Lombard General Insurance?

No. VestCall states where ICICI Lombard General Insurance’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.

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Vestmind is not a SEBI-registered investment adviser or research analyst. This is research for information, not a recommendation or personalised investment advice.