ICICI Lombard Q2 FY25 results: Net profit increases 20% to Rs 693 crore

ICICI Lombard General Insurance reported a 20 per cent year-on-year (Y-o-Y) growth in net profit to Rs 693.95 crore in July-September (Q2FY25), up from Rs 577.25 crore in the year-ago period, aided by growth in premiums.

The gross direct premium income (GDPI) rose 10.4 per cent Y-o-Y to Rs 6,721 crore from Rs 6,086 crore. Its total income for the quarter rose to Rs 5,850 crore from Rs 5,049 crore in the year-ago period. The net claims ratio of the general insurer stood at 71.4 per cent compared to 70.7 per cent in the year-ago period.

The company's combined ratio fell to 104.5 per cent from 103.9 per cent. It incurred catastrophe (CAT) losses of Rs 94 crore in Q2FY25, compared to Rs 48 crore in Q2FY24. The company declared an interim dividend of Rs 5.5 per equity share.