Will ICICI Lombard be able to gain market share going forward? Gopal Balachandran answers

economictimes.indiatimes.com:

Gopal Balachandran, CFO & CRO, ICICI Lombard, says “for CICI Lombard, the growth momentum in motor insurance has been quite positive and in fact, in December, we gained market share. The industry grew at about 8.8% in overall motor. Our growth in motor was almost about 10.8% and therefore when we look at heading into quarter four, I think we are very positive in terms of the opportunity that the segment presents and we have got all the right levers in terms of distribution service and technology which should aid us to kind of sustain the momentum that one is seeing in the context of motor.”

The motor segment has seen quite a healthy growth and has largely been aided by strong private vehicle and two-wheeler sales. What is your outlook? Will this sustain?
Gopal Balachandran: If you look at the market environment in the context of auto vehicle sales, across segments we have seen a lot of positive momentum getting played out, which is what we had put out even as a part of our analyst call that we had last evening. If you look at it on the private car side, for example, we have seen almost close to about three million vehicles getting sold. On two-wheelers, we have seen for the market almost close to about 13 million vehicles getting sold and on the commercial vehicle side, almost more than one million plus vehicles getting sold. So, in that sense, the market momentum seems to be very positive.

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In that backdrop, in the context of ICICI Lombard, the growth momentum has been quite