ICICI Lombard Reports Q4 Net Profit Dip of 2% to ₹510 Crore Amid Rising Claims Pressure

ICICI Lombard General Insurance reported a 2% year-on-year decline in net profit for Q4 FY25, at ₹510 crore compared to ₹520 crore last year. The drop was attributed to a 25.5% surge in claims paid, which reached ₹3,510 crore during the quarter. Despite this, gross direct premium income grew 10% to ₹6,903.9 crore, reflecting steady business growth. The combined ratio—a key profitability metric—rose slightly to 102.5% from 102.3%, indicating higher payouts relative to premiums earned. The company also adopted new IRDAI accounting norms, impacting premium recognition. For FY25, ICICI Lombard’s annual profit surged by 30.7% to ₹2,508 crore, supported by strong performance in retail health and motor insurance segments. The board recommended a final dividend of ₹7 per share. Shares of ICICI Lombard rose nearly 6% ahead of the results announcement, closing at ₹1,830 on the BSE. Source: Economic Times, Moneycontrol, Reuters