ROAE was at 21.5% compared to 15.3% Y-o-Y
FinTech BizNews Service
Mumbai, January 17, 2025: ICICI Lombard General Insurance Company has announced its Q3, 2024-25 results today.
PERFORMANCE FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024
(With effect from October 1, 2024 Long-term Products are accounted on a 1/n basis, as mandated by IRDAI, hence Q3 & 9M FY2025 are not comparable with prior years.)
Gross Direct Premium Income (GDPI) of the Company was at Rs 206.23 billion in
9M FY2025 compared to Rs 187.03 billion in 9M FY2024, a growth of 10.3%,
which was higher than the industry growth of 7.8%. Excluding the impact of 1/n,
GDPI of the Company grew by 11.9% for 9M FY2025.
o GDPI of the Company was at Rs 62.14 billion in Q3 FY2025 as against Rs
62.30 billion in Q3 FY2024, a de-growth of 0.3%, as against the industry
growth of 9.5%. Excluding the impact of 1/n, GDPI of the Company grew
by 4.8% for Q3 FY2025.
Combined ratio was at 102.9% for 9M FY2025 compared to 103.7% for 9M FY2024.
o Combined ratio was at 102.7% in Q3 FY2025 as against 103.6% in Q3 FY2024.
Profit before tax (PBT) grew at 42.8% to Rs 26.53 billion in 9M FY2025 as against
Rs 18.57 billion in 9M FY2024.
o PBT grew at 67.3% to Rs 9.60 billion in Q3 FY2025 as against Rs 5.74 billion
in Q3 FY2024.
o Capital gains was at Rs 7.96 billion in 9M FY2025 as against Rs 3.95 billion
in 9M FY2024. Capital gains was at Rs 2.76 billion in Q3 FY2025 as
against Rs 1.08 billion in Q3 FY2024.
Consequently, Profit after tax (PAT) grew at 42.9% to Rs 19.99 billion in 9M
FY2025 as against Rs 13.99 billion in 9M FY2024.
o PAT grew at 67.9% to Rs 7.24 billion in Q3 FY2025 from Rs 4.31 billion in
Q3 FY2024.
Return on Average Equity (ROAE) was at 20.8% in 9M FY2025 compared to
17.1% in 9M FY2024.
o ROAE was at 21.5% in Q3 FY2025 compared to 15.3% in Q3 FY2024.
Solvency ratio was 2.36x as at December 31, 2024 as against 2.65x as at
September 30, 2024 and higher than the minimum regulatory requirement of
1.50x. Solvency ratio was 2.62x as at March 31, 2024.
