4 Key Takeaways of ICICI Lombard Q3 Result in this🧵
ICICI Lombard is a company that sells non-life insurance products such as car, health insurance, etc.
1) The company made 11% more profit in Q3 of this year compared to last year & it is currently at 353 cr.
#ICICILombard
ICICI Lombard is a company that sells non-life insurance products such as car, health insurance, etc.
1) The company made 11% more profit in Q3 of this year compared to last year & it is currently at 353 cr.
#ICICILombard
2) Insurance companies make money by selling insurance and collecting payments for those policies (called premiums).
The company earned 16.9% more in premiums in Q3 of this year compared to last year, which is less than the average increase for the whole industry (18.1%).
The company earned 16.9% more in premiums in Q3 of this year compared to last year, which is less than the average increase for the whole industry (18.1%).
3) An important way to measure how well an insurance company is doing is by looking at how much extra money they have to pay out claims. This measure is called the Solvency ratio.
ICICI Lombard has a solvency ratio of 2.45 which means they have 2.45 times the amount they need to pay out claims, which is considered good.
As per the IRDAI’s mandate, the minimum solvency ratio insurance companies must maintain is 1.5 to lower risks.
As per the IRDAI’s mandate, the minimum solvency ratio insurance companies must maintain is 1.5 to lower risks.
4) An insurance company makes money when they collect more in premiums than they pay out in claims, measured by something called the Loss Ratio.
A lower Loss Ratio means company is in better financial shape.
ICICI Lombard has a Loss Ratio of 70.3%, which is considered good.
A lower Loss Ratio means company is in better financial shape.
ICICI Lombard has a Loss Ratio of 70.3%, which is considered good.
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