Icici Lombard

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

The gross direct premium income (GDPI) rose 10.4 per cent Y-o-Y to Rs 6,721 crore from Rs 6,086 crore

ICICI Lombard Q2FY25 results: Net profit jumps 20% to Rs 694 crore

ICICI Lombard General Insurance on Friday reported a 20 per cent increase in net profit to Rs 694 crore for the second quarter ended September 2024. The insurer had earned a net profit of Rs 577 crore in the year-ago period. Its total income in the quarter rose to Rs 5,850 crore from Rs 5,049 crore in the year-ago period, ICICI Lombard said in a regulatory filing. The company's written gross premium also rose to Rs 6,948 crore in the second quarter of this fiscal compared to Rs 6,272 crore a year ago. Its net premium earned rose to Rs 4,835 crore against Rs 4,240 crore in the same quarter a year ago, it said. The total expenditure of the company during the period under review increased to Rs 5,186 crore from Rs 4,452 crore in the corresponding period a year ago. The board also declared an interim dividend of Rs 5.5 per equity share or 55 per cent of the value of Rs 10 each for the first half of the current fiscal. ICICI Lombard's solvency ratio was 265 per cent at the end of Sep

Only 1 in 4 recognise heart condition symptoms: India Wellness Index 2024

Corporate employees saw a 7% drop in financial awareness, a 7% decline in influence, and a 9% drop in access to financial infrastructure, according to ICICI Lombard's India Wellness Index 2024

GST indecision pressure insurance stocks; HDFC Life, SBI Life shed up to 4%

The GST Council has announced the formation of a new Group of Ministers to review the issue of GST rate reduction on health insurance.

Go Digit, Star Health extend rally after Jefferies initiates coverage

In the past two trading sessions, Go Digit's stock increased up to 3 per cent. Including today's gain, it reached an intraday high of Rs 370 on Monday.

ICICI Lombard focuses on product innovation to increase retail share

ICICI Lombard General Insurance on Thursday said it is focusing on product innovation to increase its retail share in the health insurance segment. The private insurer reported a retail health insurance market share of 2.9 per cent, while its group insurance share stood at 11.4 per cent. "We are working on increasing our retail share, and in this endeavour, we are constantly innovating our products. Our new offering, the Elevate Health policy, which includes several industry-first features and uses AI for product advice, is expected to drive our retail sales," ICICI Lombard VP (Health Agency) Amrish Sawe said. He also noted that the current retail share of the health insurance industry is 39 per cent, but by 2030-31, this mix is expected to rise to 46 per cent. However, Sawe did not disclose the retail share of premiums within the company's health portfolio. In FY'24, the gross written premium for the health industry was Rs 1,07,800 crore, and this is projected to nearly triple to

ICICI Lombard Q1 results: PAT up 49% to Rs 580 cr on motor insurance boost

Profit after tax rose to 5.80 billion rupees ($69.4 million) for the quarter ended June 30 from 3.90 billion rupees a year earlier, the company said in an exchange filing

Top-performing Lombard Fund doubles down on India's junk credit bonds

South Asian nation's star economy and improving business environment, at a time of slowing growth in China, has made Indian assets investor darling

Say no to medical bill shock! This health plan offers infinite claim amount

ICICI Lombard's Elevate health insurance revolutionizes coverage with the "Infinite Claim Amount" add-on. Eliminate worries about exceeding sum insured limits for a single major medical claim.

India's FMCG sector to have sustained growth rate of 7-9% in 2024: Report

The FMCG sector is expected to have a sustained growth rate of 7-9 per cent in 2024, supported by government initiatives to stimulate consumption and create job opportunities, a report said. The FMCG sector's resilience and adaptability, coupled with robust government support and digital transformation initiatives, position it favourably to navigate through uncertainties and emerge stronger. "Looking ahead, the FMCG sector in India is poised for sustained growth, with forecasts indicating a 7 to 9 per cent expansion in 2024," a report from ICICI Lombard General Insurance said. However, the sector faces challenges such as "inflationary pressures, subdued consumer confidence, and prevailing unemployment rates". Now, the FMCG industry has a "burgeoning economic footprint", which exceeds Rs 9.1 lakh crore and has a "pivotal role" in driving India's economic growth and employment generation, it added. Moreover, the online sales channel for FMCG is also increasing and has been valued at

Insurance helped 46,000 women avoid deadly work during heat waves in India

With climate change raising temperatures during heat waves, millions of Indians face a difficult choice: work in dangerous conditions or go hungry

Bharti Enterprises sells shares of ICICI Lombard for Rs 663 crore

Sunil Bharti Mittal-promoted Bharti Enterprises on Thursday offloaded shares of ICICI Lombard General Insurance Company for Rs 663 crore through open market transactions. Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Singapore and Blackstone Aqua Master Sub-Fund acquired shares of Mumbai-based general insurer. Bharti Enterprises Ltd sold 38.50 lakh shares, amounting to a 0.8 per cent stake in ICICI Lombard through nine separate block deals on the BSE. The shares were sold at an average price of Rs 1,722.5 apiece, taking the deal size to Rs 663.16 crore. After the stake sale, the shareholding of Bharti Enterprises declined to 1.63 per cent from 2.43 per cent. ICICI Bank purchased 21 lakh shares, representing a 0.4 per cent stake in its subsidiary ICICI Lombard, for 361.72 crore. After the stake purchase, ICICI Bank's stakeholding in the ICICI Lombard increased to 51.7 per cent from 51.27 per cent. Share

Stocks to Watch: Infy, Bajaj Auto, Voda Idea, ICICI Lombard, Tata Comm, Zee

Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.

ICICI Lombard Q4 net up 19% to Rs 519.50 cr driven by premium growth

The gross direct premium income (GDPI) of the insurer was 22% higher at Rs 6,073 crore in Q4 FY24 from Rs 4,977 crore in Q4 FY23

PB Fintech surges 7%, hits 2-year high on pact with ICICI Lombard

Stocks of PB Fintech are trading at its highest level since November 2021. It had hit a record high of Rs 1,470 on November 17, 2021

ICICI Lombard ties up with Policybazaar to offer insurance products

The partnership will significantly augment insurance distribution, ensuring that comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform

Irdai allows firms to offer customised insurance to match customer needs

That there is no flash in the pan has been made clear by the insurance regulator when it announced these changes through a series of gazette notifications on Friday

Sion Investment exits CMS Info; ICICI Bank ups stake in ICICI Lombard

Private sector lender ICICI Bank on Tuesday hiked its stake in ICICI Lombard General Insurance by 1.42 per cent

ICICI Lombard hits new high; stock surges 5% on heavy volumes

Till 11:54 AM; a combined 8.77 million equity shares representing 1.8 per cent of total equity of ICICI Lombard changed hands on the NSE and BSE, data shows.

Strong growth rates in Q3FY24 hold more target gains for ICICI Lombard

The growth may be driven by a pickup in the motor segment as competition eases and an increased focus on retail health. Merger synergies could result in higher yields