ICICI Lombard Q3 Profit Dips 9% Amid Rising Claims, Premium Income Soars

• ICICI Lombard's net profit declined by 9% year-on-year to Rs 658 crore in the December quarter.
• The primary reasons for the profit drop were increased claims in motor and health insurance segments.
• Despite profit pressure, total premium income grew by 12.6% to Rs 12596 crore, indicating strong customer acquisition.
• Investment gains were lower compared to the previous year, further impacting net profit.
• The company maintains a strong long-term outlook with a solvency ratio over 200%, despite short-term profit pressure.

Why It Matters: ICICI Lombard's Q3 profit fell due to higher claims and lower investment gains, but premium growth remains strong.