ICICI Lombard General Insurance announced its quarterly results on July 17, 2020. Gross Direct Premium Income (GDPI) of the company stood at Rs3,302cr in Q1FY21 which declined by 5.3% yoy compared to Rs3,487cr in Q1FY20.
Excluding the crop segment, GDPI of the company recorded was at Rs3,274cr in Q1FY21 which declined by 6.2% yoy compared to Rs3,488cr in Q1FY20. The decline across the industry was mainly due to Covid-19 pandemic.
The operating profit stood at Rs443.99cr which increased by 18.06% yoy from Rs374.33cr reported in Q1FY20. Profit after tax (PAT) grew by 28.5% to Rs398cr in Q1FY21 compared to Rs310cr in Q1FY20.
Combined ratio of the company stood at 99.7% in Q1FY21 reduced by 0.7% yoy compared to 100.4% in Q1FY20 which was primarily driven by Covid-19 pandemic despite losses incurred due to catastrophic events. Solvency ratio stood at 2.50x in Q1FY21 as against 2.2x in Q1FY20, which is higher than the minimum regulatory requirement of 1.50x.
The stock closed at Rs1,288.8 with a growth of 3.15% on BSE
|
Particulars |
Q1FY21 |
Q1FY20 |
% variance |
|
GDPI |
3,302.00 |
3,487.00 |
-5.3 |
|
Operating Profit |
443.99 |
374.33 |
18.06 |
|
PAT |
398.00 |
310.00 |
28.5 |
|
Combined Ratio (%) |
99.7 |
100.4 |
-0.7 |
|
Solvency Ratio |
2.5 |
2.2 |
0.3 |
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