The ICICI Lombard, a general insurance company in India, today announced its Gross Domestic Premium Income growth to have reached Rs 10725.9 crore for the fiscal year, 2017.
In FY2017, its profit after tax increased to Rs 701.9 crore at a growth rate of 38.3 percent compared to Rs 507.5 crore in FY2016, the ICICI today said.
Meanwhile, its Return on Equity (ROE) increased to 20.3 percent in FY2017 as against 16.9 percent in FY2016 with Solvency Ratio at 2.10x against the minimum regulatory requirement of 1.5x.
The robust performance was delivered at the back of increase in policies serviced at Rs 1.77 crore in FY2017 compared to Rs 1.58 crore policies in FY2016, it further said.
The Managing Director & CEO of ICICI Lombard, Bhargav Dasgupta, added: “As we progress through the year, we shall strive hard to further expand our insurance solutions proposition as well as enhance our customer service and claim leadership stature backed by innovative technology.”