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ICICI Lombard General Insurance Company reported a marginal increase in third quarter net profit at ₹318 crore against ₹314 crore in the year-ago quarter.
Gross Direct Premium Income was up 16 per cent year-on-year (yoy) at ₹4,699 crore in Q3 FY2022 as against ₹4,034 crore in Q3 FY2021.
Claims paid increased by 31 per cent yoy to ₹2,083 crore ( ₹1,585 crore in the year ago period).
Income from investments (net) rose 20 per cent yoy to ₹ 532 crore (₹442 crore in the year ago quarter).
Investment book grew by 25 per cent yoy to ₹37,454 crore as at December-end 2021 against ₹29,892 crore as at December-end 2020.
Combined ratio, which is a measure of the profitability as well as financial health of an insurance company, improved to 104.5 per cent in Q3FY22 against 97.9 per cent in Q3FY21.
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