ICICI Lombard General Insurance PAT grows 7% yoy to Rs310cr in June quarter

The combined ratio stood at 100.4% in Q1FY20 from 98.8% in Q1FY19 primarily on account of long-term motor policies and losses from cyclone Fani.

Jul 19, 2019 10:07 IST India Infoline News Service

ICICI Lombard General Insurance Company reported its Q1FY20 results post market hours today.

Gross Direct Premium Income (GDPI) of the company stood at Rs3,487cr in Q1FY20 declining 7.6% yoy. This was higher than the industry growth (excluding crop segment) of 13.6%.

Profit before tax (PBT) grew by 7.2% to Rs475cr in the quarter compared to Rs443cr yoy on account of lower capital gains.

Consequently, profit after tax (PAT) grew by 7.1% to Rs310cr this quarter as against Rs289cr Q1FY19.

The combined ratio stood at 100.4% in Q1FY20 from 98.8% in Q1FY19 primarily on account of long-term motor policies and losses from cyclone Fani.

Retail Health insurance profits took a hit, while Corporate Health insurance posted robust profits.

ICICI Lombard General Insurance Company Ltd is currently trading at Rs1,088.50 down by Rs3.75 or 0.34% from its previous closing of Rs1,092.25 on the BSE.
The scrip opened at Rs1,100 and has touched a high and low of Rs1,160 and Rs1,061.85 respectively. So far 3,55,545 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs49,633.64cr.

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