ICICI Lombard General Insurance, a prominent player in India’s insurance sector, has disclosed its financial performance for the second quarter (Q2) of the fiscal year 2023-24. The firm’s net earnings for the quarter spanning July to September stood at ₹ 577.3 crore, witnessing a marginal drop of 2.2% from ₹ 590.5 crore during the corresponding period last year.
Despite the minor contraction in net earnings, the company’s net premium income demonstrated a positive trajectory. The net premium income for the quarter was reported at Rs 4,306 crore, marking an increase from ₹3,836 crore during the same quarter of the previous year. This substantial growth underscores robust premium collection performance.
The financial results were released post-market hours and are anticipated to influence the firm’s stock price in the forthcoming trading session.
