ICICI Lombard's Q4 profit rises on higher premiums earned [Reuters]
ICICI Bank Limited (IBN)
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Source: Reuters
, opens new tab reported a nearly 19% rise in fourth-quarter profit on Wednesday, helped by an increase in premiums at its motor and health insurance units. Profit after tax rose to 5.20 billion Indian rupees ($62.18 million) for the quarter ended March 31 from 4.37 billion rupees a year earlier, the company said in an exchange filing New Tab , opens new tab ICICI Lombard, which is backed by ICICI Bank (ICBK.NS) New Tab , opens new tab , also offers marine and crop insurance among others. India saw continued momentum in vehicle sales in the fourth quarter after an earlier boost during a festive period. There was also a sharp growth in the number of health insurance policies sold in the country in fiscal 2024. Motor insurance, ICICI Lombard's biggest segment, contributed more than 50% to the total premiums earned and grew around 7% in the fourth quarter, while premiums from its fastest-growing health insurance unit rose 36%. The company's net premiums earned during the q
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IBN
Sec Filings
- 4/30/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- IBN's page on the SEC website