ICICI Lombard Second Quarter Results: ICICI Lombard General Insurance Company declared July-September results for fiscal year 2024-25 (Q2FY25) on Friday, October 18. The company reported a 20.2 percent increase in net profit in $694 crores compared to $577 crore in the same quarter of the previous year.
Total revenue in the July-September quarter rose 15.8 percent to $5,850 crores $5,049 crore in the corresponding period last year.
The insurance company stated interim dividend of $5.5 per share, which is 55 percent of the nominal value of $10 each, for the financial year ended March 31, 2025. The record date for interim dividend is October 28. The interim dividend will be paid to shareholders on or before Saturday, November 16.
“The interim dividend will be paid to the shareholders of the Company, whose names appear in the Register of Members of the Company or in the records of the Depositaries as beneficial owners of the shares on the record date, that is, Monday 28 October 2024. “The interim dividend will be paid to the company’s shareholders no later than Saturday, November 16, 2024,” the company said in an exchange filing.
ICICI Lombardo reported a 10.7 percent increase in its gross written premium in $6,948 crores $6,272 crore in the same quarter last year.
Net premium increased by 14 percent in $4,835 crores $4,240 crore in the same period last year.
The company reported an increase in total spending of 16.4 percent in $5,186 crores $4,452 crore in the corresponding period a year ago.
Basic earnings per share (EPS) are $14.05, compared to $11.75 in the same quarter of the previous year.
About ICICI Lombard General Insurance
ICICI Lombard is a private general insurance company, which is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited.
The company offers a range of insurance, such as motor insurance, bicycle insurance, health insurance, travel insurance, crop insurance, fire insurance, personal accident insurance, marine insurance, engineering insurance and liability insurance.
The insurance company declared its April-June quarter results on July 19, reporting an increase in profits of 48.68 percent, while revenue rose 18.08 percent year-on-year. Revenue in the same quarter grew 3.71 percent year-on-year, as Mint reported on July 20.
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