ICICI Lombard General Insurance Q4 profit up 7.5%

Chennai: ICICI Lombard General Insurance Thursday reported 7.5 per cent increase in profit at Rs 228 crore for the fourth quarter of 2018-19 financial year. The company’s net profit in the year-ago period stood at Rs 212 crore.

Total income increased to Rs 2,519.72 crore as against Rs 2,066.64 crore in the last quarter of the previous fiscal. The insurer’s board has recommended a final dividend of Rs 3.50 per equity share of face value of Rs 10 each, the company said in a statement.

‘Solvency ratio was 2.24x at 31 March as against 2.12x at 31 December 2018 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.05x at 31 March 2018,’ it said.

NT Bureau