ICICI Lombard now holds more value for its parent; stock soars post listing

When ICICI Lombard, the general insurance arm of ICICI Bank, was getting ready for an initial public offering (IPO) one-and-a-half years back, analysts had said the value it would unlock would not be as significant as the bank’s life insurance arm. They seem to have been proven wrong.

On Tuesday, ICICI Lombard’s stock scaled to its all-time high of Rs 1,012 a share, before closing at Rs 971.20. As a result, the valuation gap between the general insurance business and the life insurance arm of ICICI Bank has narrowed considerably.

At the time of its listing in September 2017, ICICI