ICICI Lombard General Insurance Q3 results due on Tuesday; here's what to expect

ICICI Lombard General Insurance Q3 result preview: ICICI Lombard General Insurance is slated to report its financial results for the third quarter of the financial year 2023–24 (Q3 FY24) on Tuesday, January 16.

What to expect from ICICI Lombard General Insurance in Q3

According to Zee Business research, ICICI Lombard General Insurance is likely to report a 67.7 per cent year-on-year (YoY) jump in its net profit to Rs 592 crore in the quarter that ended on December 31, 2024.

Zee Business analysts expect the health segment to drive growth in premiums for the firm. The insurer's net premium earned for the October-December period is expected to increase 15.7 per cent YoY to Rs 4,390 crore. They expect a decline in the expense ratio of ICICI Lombard General Insurance to 17 per cent vs. 29.9 per cent logged in the third quarter last year.

The net commission ratio is expected at 14.7 per cent vs 4.2 per cent YoY, while the combined ratio is expected at 102.2 per cent vs 104.4 per cent, due to higher operating expenses and claims.

ICICI Lombard General Insurance Q2: Here's how the firm fared in July-September

ICICI Prudential Life Insurance Company reported a 23 per cent increase in its net profit at Rs 244 crore in the quarter ended in September 2023, despite lower income. The company's net profit in the same quarter a year ago stood at Rs 199 crore. However, total income decreased by 2.4 per cent to Rs 174.36 crore from Rs 226.42 crore logged in the year-ago period, mainly because of a fall in investment income.

ICICI Lombard General Insurance: Past performance

ICICI Lombard General Insurance has gained over 10 per cent in the last year.

For all other news related to business, politics, tech and auto, visit Zeebiz.com.