ICICI Lombard at record high, rides on Q3 show

NEW DELHI: Private general insurer ICICI Lombard surged to a record of Rs 872 on the BSE in morning hours, a day after it reported 5.2 per cent jump in its profit for October-December.

The insurer's Q3 net profit stood at Rs 231.76 crore, up from Rs 220.3 crore a year earlier. The company, which was listed on the exchanges in September 2017, ended 3.81 per cent up at Rs 812.45 on Tuesday.

"Increase in profit has come from underwriting performance while investment income remained flat," said Bhargav Dasgupta, MD, ICICI Lombard General Insurance. "Our focus is on keeping the combined ratio at sub-100 per cent," he added.


The stock closed Wednesday's session 4.50 per cent up at Rs 849 on BSE.