ICICI Lombard on Tuesday reported a 2 per cent decline in net profit to Rs 510 crore for the fourth quarter ended March 31. The company had reported a post-tax net profit of Rs 520 crore in the year-ago period. However, the total income of the company rose to Rs 5,851 crore in the quarter under review compared to Rs 5,165 crore in the year-ago period. The gross direct premium income of the company improved to Rs 6,211 crore against Rs 6,073 crore in the same quarter a year ago, registering a growth of 2.3 per cent. The board have recommended a final dividend of Rs 7 per equity share or 70 per cent of face value of Rs 10 each for the financial year ended March 31, 2025, ICICI Lombard said in a regulatory filing. The solvency ratio was 2.69 times at March-end 2025 against 2.62 times on March 31, 2024, higher than the minimum regulatory requirement of 1.5 times.
Life segment players may report flat profit; claims, new norms to weigh on general insurers
The order is in response to the remote inspection conducted by the authority from November 8, 2021 to November 11, 2021
Families of the self-employed face significant financial uncertainty upon the policyholder's death
The 6.2 per cent increase in premiums collected come in the backdrop of slowing economic growth in the closing quarters of FY25 and a change in accounting norms
The general insurers' premium grew by 5.20 per cent Y-o-Y to Rs 2.58 trillion at the end of FY25
Customers must disclose habits like smoking and alcohol consumption honestly, regardless of frequency
Sovereign guarantee has never been used as a marketing tool for policies, says company
Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk
The past fortnight saw a slew of big-ticket deals in the insurance sector, with the biggest of them being a Rs 24,180 crore acquisition by Bajaj Allianz
The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore
He is appointed for five years from the date of assumption of charge or until he attains the age of 62 years or until further orders, whichever is earlier
Company calls it a routine exercise to ensure compliance
The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval
German firm Allianz may join hands with Mukesh Ambani-led Jio Financial Services as it seeks fresh entry into India's life and general insurance sector
Bajaj Group will acquire the 26 per cent stake in BALIC for Rs 10,400 crore and in BAGIC for Rs 13,780 crore from Allianz
Irdai felt the need to permit insurers to hedge through equity derivatives
Fourth-quarter operating profit also set a record, rising 71 per cent to $14.53 bn, or about $1,010 per Class A share, from $8.48 bn a year earlier, reflecting gains in its insurance operations
More than half of Indians surveyed feel unprepared for their future despite having a detailed financial plan or having done some degree of planning, says a study. The study of individuals in the age group of 35 to 54 years who financially provide for their ageing parents and growing children found that 60 per cent of respondents feel their savings are not enough for future. The respondents agree that "no matter how much they save or invest, they feel like it's never enough for future", the study by YouGov said. A majority 94 per cent of respondents said they either have a detailed financial plan or have done some degree of planning, the study, which surveyed more than 4,000 people across 12 cities across India, said. The study of aspirations, attitudes and financial preparedness of individuals in the 35-54 years age group stated stated that more than 50 per cent worry about running out of money, always feeling behind and not doing well enough despite efforts. "They show high relia
Through Bima-ASBA, policyholders can opt for UPI's One-Time Mandate (OTM) and authorise the blocking of a specified amount, i.e up to Rs 2 lakh, in their bank account via UPI