ICICI Lombard IPO: A safe growth option

Market leadership, first-mover advantage stand the company in good stead

Nearly a year after listing its life insurance business, ICICI Bank will list its general insurance arm, ICICI Lombard General Insurance, the largest non-life private sector player based on gross direct premium income (GDPI). 

The initial public offering (IPO) has many advantages for investors. The most eye-catching one being the first-mover advantage among private players. The under-penetrated nature of general insurance in India and the diversified product offering, along with market leadership among private players across categories, supports the investment rationale in it. 

However,  at Rs 651-661, the IPO is at a significant premium to the price at which ICICI