ICICI Securities Maintains Buy Ratings on ICICI Lombard and ICICI Prudential with Revised Targets

ICICI Securities maintains a BUY rating on ICICI Lombard General Insurance with a target price of Rs 2,250, citing healthy earnings growth and improved near-term outlook supported by GST cuts despite sectoral challenges. Similarly, ICICI Prudential Life Insurance is rated BUY with a revised target of Rs 800, driven by recovery in APE and VNB growth, margin improvement, and a diversified distribution mix, though concerns remain over persistency and agency performance.