ICICI Lombard General Insurance Q2 profit jumps 35% to Rs 416 crore

ICICI Lombard General Insurance on Friday reported 35 percent jump in net profit at Rs 415.74 crore for September quarter 2020-21.

The insurer had posted a net profit of Rs 307.91 crore for the year-ago period. Total income in the quarter under review rose to Rs 2,883.40 crore from Rs 2,739.67 crore in the same period of 2019-20, ICICI Lombard said in a regulatory filing.

Net premium earned during the quarter grew to Rs 2,462.52 crore from Rs 2,356.92 crore. Gross direct premium income rose 8 per cent to Rs 3,189 crore. Net premium earned during the quarter grew to Rs 2,462.52 crore from Rs 2,356.92 crore.

ICICI Lombard stock settled nearly flat at Rs 1,257.50 on BSE.

Source: Money Control