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India's ICICI Lombard beats Q3 profit estimates on health, motor insurance boost


//business-finance.news-articles.net/content/202 .. t-estimates-on-health-motor-insurance-boost.html
Published in Business and Finance on by Reuters   Print publication without navigation

India's ICICI Lombard General Insurance beat third-quarter profit estimates on Friday, helped by higher premiums earned in its health and motor insurance segments.

ICICI Lombard General Insurance reported a better-than-expected third-quarter profit, driven by strong performance in its health and motor insurance segments. The company's profit after tax rose to 4.57 billion rupees ($55.04 million) for the quarter ending December 31, surpassing analysts' average estimate of 4.03 billion rupees. This growth was supported by a 14% increase in gross direct premium income, with health insurance premiums growing by 25% and motor insurance by 17%. Despite these gains, the company experienced a slight increase in the combined ratio to 103.7% from 103.4% the previous year, indicating a marginal rise in underwriting losses. However, investment income also saw a significant rise, increasing by 22% to 6.93 billion rupees, which helped bolster the overall profit figures.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/indias-icici-lombard-beats-q3-profit-estimates-health-motor-insurance-boost-2025-01-17/ ]

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