VERIFIEDET Stocks·16 Jul 2026negative

ICICI Lombard Q1 profit slumps 46% to Rs 403 crore on fire claims, SC verdict impact

AI Summary

·ICICI Lombard's net profit declined 46% to Rs 403 crore in the June quarter.
·The profit slump was attributed to two large fire insurance claims and a Supreme Court judgment affecting its motor third-party portfolio.
·The insurer's combined ratio worsened to 107.2 percent from 102.9 percent, while gross direct premium income increased by 7.5 percent.