'ICICI Lombard General Insurance Company conducted a conference call on 17 January 2025 to discuss its
financial results for the quarter ended December 2024. Sanjeev Mantri, MD &
CEO of the company addressed the call:
Highlights:
GDPI for Q3 FY2025 rose
4.8%. With 1/n accounting norm, the GDPI declined 0.3% as against the industry
growth of 9.5% during the same period.
Excluding Crop and Mass
health the Company de-grew at 0.7% as compared to the industry growth of 5.7%.
General insurers are
mandated to recognize premium for long-term products on a 1/n basis effective 1
October 2024. This change does not impact economic value.
In the Commercial lines
segment, the company remained cautious due to continued pricing pressure,
resulting in de-growth of 8.6%. However, its market share in the segment
remained stable.
The company has maintained
leadership position in liability and marine cargo segments.
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