ICICI Lombard Q4 Profit Rises 7% on Health Insurance Demand
ICICI Lombard reported a 7% rise in fourth-quarter profit to 5.47 billion rupees. The growth was driven by strong demand for retail health insurance products.
Xurve View
Xurve View
The major insurer ICICI Lombard General Insurance has reported a 7% increase in its fourth-quarter profit, driven by a surge in demand for retail health insurance products throughout India. For the three-month period concluding on March 31, the company's profit after tax reached 5.47 billion rupees ($58.55 million), up from the 5.10 billion rupees reported in the same quarter of the previous year. The results, announced on Wednesday, highlight the strengthening health insurance market in the region as more individuals seek comprehensive coverage.
