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The insurere stated, 'With effect from October 1, 2024 long-term products are accounted on a 1/n basis, as mandated by IRDAI, hence Q3 & 9M FY25 are not comparable with prior years.'
Gross direct premium income (GDPI) of the company was at Rs 6,214 crore in Q3 FY25, registering a de-growth of 03% YoY, a de-growth of 0.3%, as against the industry growth of 9.5%. Excluding the impact of 1/n, GDPI grew by 4.8% for Q3 FY25.
Combined ratio stood at 102.7% in Q3 FY25 as against 103.6% reported in the same period a year ago.
Capital gains were at Rs 276 crore in third quarter of FY25, steeply higher than Rs 108 crore posted in Q3 FY24.
Return on average equity (ROAE) was 21.5% in Q3 FY25 as compared to 15.3% reported in Q3 FY24.
Solvency ratio was 2.36x as at 31 December 2024 as against 2.65x as at 30 September 2024, which was higher than the minimum regulatory requirement of 1.50x.
ICICI Lombard is India's largest private sector general insurance company based on gross direct premium. The company offers a comprehensive range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. Its parent - ICICI Bank, which is one of the largest private sector banks in the country, holds 51.66% stake in the company as of 30 September 2024.
The scrip rose 2.04% to end at Rs 1,947.15 on Friday, 18 January 2025.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits. Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns. Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices. At times, the holdings of customers are sold at prices detrimental to the customer.
The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
The following illicit activities by the persons named herein have come to the notice of Stock Exchanges: