ICICI Lombard Q3 results: ICICI Lombard Q3 results: Net profit remains flat at Rs 318 cr

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New Delhi: ICICI Lombard General Insurance on Wednesday reported a marginal 1.2 per cent growth in net profit at Rs 318 crore for December quarter 2021-22. It had posted a net profit of Rs 314 crore in the year-ago period, the non-life insurer said in a regulatory filing.

Gross direct premium income (GDPI) increased to Rs 4,699 crore from Rs 4,034 crore, against the industry’s 4.9 per cent growth.

Excluding crop segment, GDPI of the company was at Rs 4,626 crore in the third quarter of the current fiscal year as against Rs 4,034 crore in the same period a year ago, it said.

“Solvency ratio was 245 per cent at December 31, 2021 as against 249 per cent at September 30, 2021 and higher than the minimum regulatory requirement of 150 per cent. Solvency ratio was 290 per cent at March 31, 2021,” it said.

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Source: The Economic Times
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