ICICI Lombard Q2 profit rises 20% to Rs 694 crore

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ICICI Lombard General Insurance connected Friday reported a 20 per cent summation successful nett net to Rs 694 crore for the 2nd 4th ended September 2024. The insurer had earned a nett net of Rs 577 crore successful the year-ago period.

Its full income successful the 4th roseate to Rs 5,850 crore from Rs 5,049 crore successful the year-ago period, ICICI Lombard said successful a regulatory filing. The company's written gross premium besides roseate to Rs 6,948 crore successful the 2nd 4th of this fiscal compared to Rs 6,272 crore a twelvemonth ago.

Its nett premium earned roseate to Rs 4,835 crore against Rs 4,240 crore successful the aforesaid 4th a twelvemonth ago, it said. The full expenditure of the institution during the play nether reappraisal accrued to Rs 5,186 crore from Rs 4,452 crore successful the corresponding play a twelvemonth ago.

The committee besides declared an interim dividend of Rs 5.5 per equity stock oregon 55 per cent of the worth of Rs 10 each for the archetypal fractional of the existent fiscal. ICICI Lombard's solvency ratio was 265 per cent astatine the extremity of September against 259 per cent astatine the extremity of September past year. This is higher than the minimum regulatory request of 150 per cent.

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