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Insurer announces after-tax profit of Rs 318 Crore, up 1.3%

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Insurer announces after-tax profit of Rs 318 Crore, up 1.3%

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The country’s largest private sector non-life insurer, ICICI Lombard General Insurance, on Wednesday reported a modest 1.27% year-on-year increase in profit after tax (PAT) in the quarter ended December 31, 2021. In its quarterly earnings report, the insurer reported a PAT of Rs 318 crore against Rs 314 crore in the corresponding quarter of the previous year.

The insurer also indicated that its Gross Direct Premium Income (GDPI) stood at ₹13,311 crore in the nine months of the current financial year from Rs 10,525 crore during the same period of the 2020-21 financial year, representing a growth of 26%.

(This is a developing story Keep checking for further updates)

(Edited by : Vijay Anand)

Insurer announces after-tax profit of Rs 318 Crore, up 1.3%

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