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Insurer ICICI Lombard fourth quarter profit rises 23% to Rs 346 crore


ICICI Lombard General Insurance Company on Saturday reported 23 per cent rise in net profit at Rs 346 crore for March quarter 2020-21.
The non-life insurer had posted a net profit of Rs 282 crore in the corresponding period of 2019-20.
The gross direct premium income (GDPI) of the company stood at Rs 3,478 crore in the quarter under review as compared to Rs 3,181 crore in the year-ago period, ICICI Lombard said in a statement.
For the full year 2020-21, the profit after tax or net profit increased 23.4 per cent to Rs 1,473 crore from Rs 1,194 crore in the preceding fiscal year.
GDPI of the company stood at Rs 14,003 crore in last fiscal year as compared to Rs 13,313 crore in 2019-20, it said. ....

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Welcome To IANS Live - BUSINESS - FY22 prospects uncertain, insurers wish for an insurance cover


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IANSLive
Chennai, April 15 (IANS) Insurance is basically a business based on uncertainty of events. Curiously, the general insurance industry officials while hoping for a growth, are uncertain about the prospects for FY22, as they are faced with negative consumer sentiment; the reduction in cash flow due to withdrawal of long-term motor policy; lower investment yield and muted growth owing to economy affected by Covid-19 pandemic.
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Keeping eye on insurers


Keeping eye on insurers
Those unhappy with how their insurer handled their claim should not despair as there are avenues for recourse.
The office of the Ombudsman for Short-Term Insurance (OSTI) is a reputable body that investigates and settles disputes between customers and the company they have insurance with.      ..
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