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ICICI Lombard General Insurance Company Ltd announces Q3 results for FY2018-19

Posted On: 2019-01-18 22:41:51

PERFORMANCE FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2018

- Gross Direct Premium Income (GDPI) of the Company increased to Rs. 110.03 billion in 9M FY2019 compared to Rs. 94.31 billion in 9M FY2018, registering a growth of 16.7% as against industry growth of 13.1%.

- GDPI of the Company significantly increased to Rs. 36.99 billion in Q3 FY2019 compared to Rs. 29.37 billion in Q3 FY2018, registering a growth of 25.9% as against industry growth of 13.6%.

- Combined ratio improved to 98.7% in 9M FY2019 from 100.4% in 9M FY2018.

- Combined ratio improved to 95.9% in Q3 FY2019 from 96.0% in Q3 FY2018.

- Profit before tax (PBT) grew by 37.8% to Rs. 12.53 billion in 9M FY2019 compared to Rs. 9.09 billion in 9M FY2018 while Profit after tax (PAT) grew by 26.4% to Rs. 8.22 billion in 9M FY2019 as against Rs. 6.50 billion in 9M FY2018.

- PBT for Q3 FY2019 grew by 11.9% to Rs. 3.61 billion as compared to Rs. 3.22 billion in Q3 FY2018, while PAT for Q3 FY2019 grew by 3.2% to Rs. 2.39 billion compared to Rs. 2.32 billion in Q3 FY2018. PBT for Q3 FY2019 includes upfront expensing of acquisition cost relative to the growth of 25.9% in GDPI whereas the full benefit of earned premium will be realized over the policy period.

- Return on Average Equity (ROAE) was 22.7% in 9M FY2019 compared to 21.5% in 9M FY2018.

- ROAE was 19.0% in Q3 FY2019 compared to 21.9% in Q3 FY2018 on account of upfront expensing of acquisition cost relative to the growth of 25.9% in GDPI whereas the full benefit of earned premium will be realized over the policy period.

- Solvency ratio was 2.12x at December 31, 2018 as against 2.10x at September 30, 2018 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.05x at March 31, 2018.

Shares of ICICI Lombard General Insurance Company Ltd was last trading in BSE at Rs.861.3 as compared to the previous close of Rs. 873.9. The total number of shares traded during the day was 15942 in over 837 trades.

The stock hit an intraday high of Rs. 878.65 and intraday low of 856.95. The net turnover during the day was Rs. 13837748.


Source: Equity Bulls

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