ICICI Lombard General Insurance Q3 Results: Net profit rises 68% to ₹724 crore, gross premium drops marginally | Stock Market News

ICICI Lombard General Insurance Q3 Results: ICICI Lombard General Insurance Company announced its October-December quarter results for fiscal 2024-25 (Q3FY25) on Friday, January 17, reporting a sharp rise of 68 per cent in net profit to ₹724.4 crore, compared to ₹431.5 crore in the corresponding period last year.

The gross premium dropped marginally by 0.3 per cent to ₹6,214 cr compared to ₹6,230 crore in the year ago period. The return on average equity (ROAE) came in at 21.5 per cent compared to 15.3 per cent in the same period last year.

According to brokerages,  a strong retail health outlook; challenges in other lines: Retail health is poised to perform well, given the insurer’s investments in distribution on the agency side. However, a slowdown in auto sales could be a challenge to growth in the motor segment. It is likely to be cautious in the P&C segment and group health as risk is not adequately priced in.