ICICI Lombard General Insurance Friday reported a 3 per cent increase in profit at Rs 239.14 crore for the third quarter of 2018-19 financial year.
The company's net profit in the corresponding quarter of 2017-18 was at Rs 231.76 crore.
Total income of the insurance company increased to Rs 2,416.39 crore as against Rs 2,019.77 crore in the third quarter of the previous fiscal.
Solvency ratio was 2.12 times as on December 31, 2018, as against 2.1 times at September 30, 2018 and higher than the minimum regulatory requirement of 1.5 times.
Besides, the board approved re-appointment of Bhargav Dasgupta as the managing director and Chief Executive Officer of the company for a period of five years with effect from May 1, 2019, subject to approval of Insurance Regulatory and Development Authority of India.
It also re-appointed of Ashvin Parekh as non-executive, independent director for a second term of five years with effect from April 18, 2019.
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