ICICI Lombard net profit rises 6.6% in Q3, premium income up 4%

Solvency ratio of the company has remained stable at 2.76, against the regulatory requirement of 1.5

Private sector general insurer ICICI Lombard has posted a 6.6 per cent rise in net profit at Rs 313.53 crore in the October–December (Q3) period of FY21, from Rs 294.11 crore in the same period of the previous financial year.

The gross direct premium income of the insurer rose 9.2 per cent in Q3FY21 to Rs 4,034 crore, from Rs 3,693 crore in Q3FY20. And, the premium income of the insurer has seen a 4 per cent growth in the first nine months of the current fiscal year (9MFY21) at Rs 10,522 crore, compared to Rs 10,132 crore in the corresponding