ICICI Lombard's Q3 Financial Triumph

In a remarkable financial disclosure, ICICI Lombard, a leading general insurer, announced a significant 68% increase in its net profit for the quarter ending December 2024, reaching an impressive Rs 724 crore. This is a substantial rise from the Rs 431 crore net profit recorded in the same quarter the previous year.

Gross Direct Premium Income and Solvency Ratio Insights

Despite the profit surge, the company experienced a slight decline in its gross direct premium income, which stood at Rs 6,214 crore for the quarter, down from Rs 6,230 crore in the corresponding period last year. On a positive note, ICICI Lombard's solvency ratio was reported at 2.36x as of December 31, 2024, demonstrating a robust financial health, albeit a decrease from 2.65x at the end of the previous quarter. It's noteworthy that this ratio remains well above the minimum regulatory requirement of 1.50x.