ICICI Lombard General Insurance Company climbs on strong Q2 performance

ICICI Lombard General Insurance Company's net profit advanced 5.1% to Rs 307.91 crore on 6.1% rise in net sales to Rs 2,356.92 crore in Q2 September 2019 over Q2 September 2019.

The company's Return on Average Equity (ROAE) fell 1.9% to 22% in Q2 September 2019 as against 23.9% in Q2 September 2018. Its combined ratio improved to 102.6% in Q2 September 2019 as against 101.1% in Q2 September 2018.

The company's solvency ratio was 2.26x as on 30 September 2019 as against 2.05x on 30 September 2019, higher than the minimum regulatory requirement of 1.50x. The solvency ratio stood at 2.24x as on 31 March 2019. Meanwhile, the S&P BSE Sensex was down 69 points or 0.17% to 39,229.83.

On the BSE, 39,844 shares were traded in the counter so far compared with average daily volumes of 1.52 lakh shares in the past two weeks. The stock hit an intraday high of Rs 1,292.65, which is also an all-time record high for the counter. It hit an intraday low of Rs 1,239. The stock hit a 52-week low of Rs 759.40 on 22 October 2018.

ICICI Lombard General Insurance Company's segments include fire, engineering, marine cargo, marine hull, motor OD, motor TP, workmen's compensation, public/product liability, personal accident, aviation, health, credit insurance, crop/weather insurance and others.

Source: Capital Market