ICICI Lombard General Insurance jumps after decent Q3 results
ICICI Lombard General Insurance Company rose 3.42% to Rs 809.40 at 14:41 IST on BSE after net profit rose 5.20% to Rs 231.76 crore on 9.60% increase in total income to Rs 2019.77 crore in Q3 December 2017 over Q3 December 2016.
The result was announced during trading hours today, 16 January 2018.Meanwhile, the S&P BSE Sensex was down 20.47 points, or 0.06% to 34,823.04.
On the BSE, 86,000 shares were traded in the counter so far, compared with average daily volumes of 18,000 shares in the past two weeks. The stock had hit a high of Rs 844 and a low of Rs 788.75 so far during the day. The stock hit a record high of Rs 849.85 on 8 January 2018. The stock hit a record low of Rs 619 on 31 October 2017.
ICICI Lombard General Insurance Company earned net premium of Rs 1751 crore in Q3 December 2017, up 13.48% compared with Rs 1543 crore in Q3 December 2016.
The company reported combined ratio of 96% in Q3 December 2017 compared with 106.6% in Q3 December 2016.
The company's return on average equity was reported at 22.4% in Q3 December 2017 compared with 20.4% in Q3 December 2016.
ICICI Lombard General Insurance Company is largest private-sector non-life insurer in India based on gross direct premium income in fiscal 2017.
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First Published: Jan 16 2018 | 2:38 PM IST