ICICI Lombard General Insurance Q1 Results FY2023, PAT at Rs. 3.49 billion

ICICI Lombard General Insurance Q1 Results FY2023

by Shreya Anaokar Last Updated: Dec 12, 2022 - 12:14 pm 22.7k Views
Listen icon

On 19th July 2022, ICICI Lombard General Insurance announced its quarterly results for the first quarter of FY2023

 

Q1FY23 Key Highlights:

- Gross Direct Premium Income (GDPI) of the Company was at Rs. 53.70 billion in Q1 FY2023 as against Rs. 41.88 billion in Q1 FY2022, a growth of 28.2%. This growth was higher than the industry growth of 23.0% during the same period.

- Combined ratio stood at 104.1% in Q1 FY2023 as against 123.5% in Q1 FY2022.

- Profit before tax (PBT) grew by 80.1% to Rs. 4.65 billion in Q1 FY2023 as against Rs. 2.58 billion in Q1 FY2022

- Capital gains were at Rs. 0.32 billion in Q1 FY2023 as against Rs. 3.27 billion in Q1 FY2022.

-  Profit after tax (PAT) grew by 79.6% to Rs. 3.49 billion in Q1 FY2023 as against Rs. 1.94 billion in Q1 FY2022

- Return on Average Equity (ROAE) was 15.0% in Q1 FY2023 as against 9.4% in Q1 FY2022.

- Share of health insurance in the company’s product mix increased from 22 percent in FY22 to 28 percent in Q1FY23. The company has been focused on increasing its health book faster and had guided for a higher proportion of health segment in the business mix.

- Loss ratio in the health segment halved in Q1FY23 to 73.7 percent compared to 148.4 percent in Q1FY22. Overall, the insurer’s loss ratio has come down to 72.1 percent in Q1FY23 from 75.1 percent in FY22.

 

Shares of the ICICI Lombard General Insurance closed at Rs. 1,268.85, down 0.51 percent from the previous day’s close.

 

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Mukka Proteins IPO Anchor Allocation at 30%

About the Mukka Proteins IPO The st

Owais Metal and Mineral Processing IPO subscribed 221.18 times

About the Owais Metal and Mineral Processing IPO

Juniper Hotels IPO Lists 1.39% higher, then hits upper circuit

Juniper Hotels IPO opens higher, hits upper circuit