Informative

ICICI Lombard General Insurance Company Q1 Results Live : profit rise by 48.68% YOY | Company Business News

Update / Judgement Date

21 Jul 2024

Source

Livemint

Author

Team — WCP Legal Desk

Reading Time

1 min read

InsuranceStock Market

ICICI Lombard General Insurance Company reported a 48.68% increase in profit for Q1, reaching ₹1,124 crore compared to the previous year. The company's gross direct premium income rose by 18.34% to ₹6,867 crore. The improved financial performance is attributed to higher premium collections and better claims management. Additionally, the combined ratio, which measures profitability, improved to 96.5% from 97.8%. The insurer's investment income also contributed positively, reflecting effective portfolio management. Overall, ICICI Lombard demonstrated strong growth in its operational and financial metrics, signaling a robust performance for the quarter.

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ICICI Lombard General Insurance Company Q1 Results Live : profit rise by 48.68% YOY | Company Business News

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