ICICI Lombard GIC Q4 net profit down; board declares ₹7 final dividend

ICICI Lombard General Insurance Company on Tuesday posted a 1.9% year-on-year decline in net profit for the March quarter at ₹509.6 crore, compared with ₹520 crore in the same quarter last year.

However, for the full year FY25, the company’s profit after tax (PAT) rose sharply by 30.7% to ₹2,508 crore, up from ₹1,919 crore in FY24, it highlighted.

Gross premium income for the March quarter grew 10.2% YoY to ₹6,903.9 crore, while operating profit dropped 25.9% to ₹415.9 crore.

Underwriting loss narrowed slightly to ₹209.7 crore from ₹235.6 crore in Q4 FY24. The combined ratio stood at 102.5%, marginally higher than 102.3% a year ago.

For FY25, ICICI Lombard’s Gross Direct Premium Income (GDPI) rose 8.3% to ₹26,833 crore, outpacing the industry growth of 6.2%. Adjusted for new IRDAI accounting norms, GDPI grew 11%, above the industry’s 8.6% rise.

Also read: ICICI Prudential Life reports mixed Q4 results missing APE, VNB estimates; declares dividend

The insurer’s solvency ratio remained robust at 2.69x as of 31 March 2025, well above the regulatory requirement of 1.5x.

The Board has proposed a final dividend of ₹7 per share, taking the total FY25 dividend to ₹12.5 per share. The company also reported an improvement in return on average equity to 19.1% from 17.2% in FY24.

Ahead of announcing Q4 earnings, shares of ICICI Lombard rose 6.5% on the BSE to close at ₹1,830.