Conference Call with ICICI Lombard General Insurance Company Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
ICICI Lombard General Insurance Company announced Q4FY23 results: FY23: Gross Direct Premium Income (GDPI) of the company stood at Rs 210.25 billion in FY23 compared to Rs 179.77 billion in FY22, a growth of 17.0% which was higher than the industry growth of 16.4% Combined ratio stood at 104.5% in FY23 compared to 108.8% in FY22 Profit before tax (PBT) grew by 25.5% to Rs 21.13 billion in FY23 compared to Rs 16.84 billion in FY22 Capital gains were at Rs 4.53 billion in FY23 compared to Rs 7.38 billion in FY22 Profit after tax (PAT) grew 36.0% to Rs 17.29 billion in FY23 compared to Rs 12.71 billion in FY22. PAT includes the reversal of tax provision of Rs 1.28 billion in Q2FY23 Return on Average Equity (ROAE) was 17.7% in FY23 as against 14.7% in FY22 Q4FY23: GDPI of the company was at Rs 49.77 billion in Q4FY23 as against Rs 46.66 billion in Q4FY22, a growth of 6.7% as against the industry growth of 16.9% Combined ratio stood at 104.2% in Q4FY23 compared to 103.2% in Q4FY22 PBT grew by 39.5% to Rs 5.73 billion in Q4FY23 as against Rs 4.10 billion in Q4FY22 Capital gains were at Rs 1.59 billion in Q4FY23 as against Rs 1.36 billion in Q4FY22 PAT grew by 39.8% to Rs 4.37 billion in Q4FY23 as against Rs 3.13 billion in Q4FY22 ROAE was 17.2% in Q4FY23 as against 14.0% in Q4FY22 The Board of Directors of the company has proposed a final dividend of Rs 5.50 per share for FY23. The payment is subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. The overall dividend for FY23 including proposed final dividend is Rs 10.00 per share Solvency ratio was 2.51x as of March 31, 2023 as against 2.45x as of December 31, 2022 which was higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.46x as of March 31, 2022. Result PDF
Conference Call with ICICI Lombard General Insurance Company Management and Analysts on Business Updates. Listen to the full transcript.