19th October 2023
Respected sir / Madam,
Please find attached press release regarding ICICI LOMBARD Q2 RESULTS: OUTGROWS INDUSTRY WITH GDPI AT ₹124.72 BILLION FOR H1FY24..
Please help us to publish this press release in your prestigious publication.
Thank you so much.
Best Regards,
Suchitra Ayare
+919930206236| suchitra
The Good Edge
Strategic Communications and CSR Advisory
www.thegoodedge.com
മാധ്യമക്കുറിപ്പ് ഒക്ടോബർ 18, 2023
ഐ.സി.ഐ.സി.ഐ. ലോംബാർഡ് രണ്ടാം പാദ ഫലങ്ങൾ: 2024 സാമ്പത്തികവർഷം ഒന്നാം അർദ്ധവർഷത്തിലെ ₹124.72 ബില്ല്യൺ എന്ന, ജി.ഡി.പി.ഐ.യോടു കൂടി വ്യവസായത്തെ പിന്നിലാക്കി.
18.2% വളർച്ച, വ്യവസായ വളർച്ചയായ 14.9% എന്നതിനേക്കാൾ കൂടുതലാണ്.
· 2023 സാമ്പത്തികവർഷം ഒന്നാം അർദ്ധവർഷത്തിലെ ലെ 105.55 ബില്ല്യൺ രൂപയുമായി താരതമ്യം ചെയ്യുമ്പോൾ, കമ്പനിയുടെ മൊത്തം നേരിട്ടുള്ള പ്രീമിയം വരുമാനം (ജി.ഡി.പി.ഐ.) 2024 സാമ്പത്തികവർഷം ഒന്നാം അർദ്ധവർഷത്തിൽ 124.72 ബില്ല്യൺ രൂപയായിരുന്നു, ഇത് 18.2% വളർച്ചയാണ്, ഇത് 14.9% വ്യവസായ വളർച്ചയേക്കാൾ കൂടുതലുമാണ്.
o കമ്പനിയുടെ ജി.ഡി.പി.ഐ. 2023 സാമ്പത്തികവർഷം രണ്ടാം പാദത്തിലെ 51.85 ബില്യണിൽ നിന്ന് 2024 സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം പാദത്തിൽ 60.86 ബില്യണായി ഉയർന്നു, 17.4% വളർച്ച. ഈ വളർച്ച 12.5% എന്ന വ്യവസായ വളർച്ചയെക്കാൾ കൂടുതലായിരുന്നു.
· സംയോജിത അനുപാതം 2023 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിലെ 104.6% ആയി താരതമ്യം ചെയ്യുമ്പോൾ 2024 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിന് 103.7% ആയിരുന്നു. 2024 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിലെ 0.83 ബില്യൺ രൂപയുടെയും 2023 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിലെ 0.28 ബില്യൺ രൂപയുടെയും സി.എ.ടി. നഷ്ടത്തിന്‍റെ ആഘാതം ഒഴിവാക്കി, സംയോജിത അനുപാതം യഥാക്രമം 102.7%, 104.2% ആയിരുന്നു.
o സംയോജിത അനുപാതം 2023 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിലെ 105.1% ന്‍റെ സ്ഥാനത്ത് 104.6% 2024 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിൽ 103.7% ആയിരുന്നു. 2024 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിലെ 0.43 ബില്യൺ രൂപയുടെയും 2023 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിലെ 0.28 ബില്യൺ രൂപയുടെയും സി.എ.ടി. നഷ്ടങ്ങളുടെ ആഘാതം ഒഴിവാക്കിയുള്ള, സംയോജിത അനുപാതം 102.8%, 104.3% എന്നിങ്ങനെ ആയിരുന്നു.
· നികുതിക്ക് മുമ്പുള്ള ലാഭം (പി.ബി.ടി.) 2023 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിലെ 10.75 ബില്ല്യൺ രൂപ ആയിരുന്നത് 19.4% വളർന്ന് 2024 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിൽ 10.75 ബില്ല്യൺ രൂപ ആയപ്പോൾ
പി.ബി.ടി. 2023 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിലെ 6.10 ബില്ല്യൺ രൂപ ആയിരുന്നത് 25.3% വളർന്ന് 2024 സാമ്പത്തിക വർഷം രണ്ടാം അർദ്ധ വർഷത്തിൽ 7.64 ബില്ല്യൺ രൂപ ആയി.
തൽഫലമായി, നികുതിക്ക് ശേഷമുള്ള ലാഭം (പി.എ.ടി.) 2023 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിലെ 9.40 ബില്യൺ രൂപയിൽ നിന്ന് 3.0% വർധിച്ച് 2024 സാമ്പത്തിക വർഷം ഒന്നാം അർദ്ധ വർഷത്തിൽ 9.68 ബില്യൺ രൂപയിലെത്തി. പി.എ.ടി. 2023 സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം പാദത്തിലെ 5.91 ബില്യൺ രൂപയിൽ നിന്ന് 2.2% വർധിച്ച് 2024 സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം പാദത്തിൽ 5.77 ബില്യൺ രൂപയിലെത്തി. 2023 സാമ്പത്തിക വർഷം രണ്ടാം പാദത്തിലെ ടാക്‌സ് പ്രൊവിഷന്റെ ഒറ്റത്തവണ ആഘാതം ഒഴിവാക്കി, പി.എ.ടി. 2024 സാമ്പത്തിക വർഷത്തിലെ ഒന്നാം അർദ്ധവർഷത്തിൽ 19.2% ഉം 2024 സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം അർദ്ധവർഷത്തിൽ 24.8% ഉം വർദ്ധിച്ചു.
· റിട്ടേൺ ഓൺ ആവറേജ് ഇക്വിറ്റി (ആർ.ഒ.എ.ഇ.) 2023 -സാമ്പത്തിക വർഷത്തിലെ ഒന്നാം അർദ്ധവർഷത്തിലെ 19.9% ആയി താരതമ്യം ചെയ്യുമ്പോൾ 2024 സാമ്പത്തിക വർഷത്തിലെ ഒന്നാം അർദ്ധവർഷത്തിൽ 18.0% ആയിരുന്നപ്പോൾ, ആർ.ഒ.എ.ഇ. 2023 -സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം പാദത്തിലെ 24.5% ആയി താരതമ്യം ചെയ്യുമ്പോൾ 2024 സാമ്പത്തിക വർഷത്തിലെ രണ്ടാം പാദത്തിൽ 21.1% ആയിരുന്നു.
· സോൾവൻസി അനുപാതം 2023 ജൂൺ 30നുള്ള 2.53x ആയിരുന്നത് 2023 സെപ്റ്റംബർ 30-ന് 2.59x ആയിരുന്നു, ഇത് ഏറ്റവും കുറഞ്ഞ റെഗുലേറ്ററി ആവശ്യകതയായ 1.50x-നേക്കാൾ കൂടുതലാണ്. 2023 മാർച്ച് 31-ന് സോൾവൻസി അനുപാതം 2.51x ആയിരുന്നു.
· കമ്പനിയുടെ ഡയറക്ടർ ബോർഡ്, 2023 സാമ്പത്തിക വർഷത്തിലെ ഒന്നാം അർദ്ധവർഷത്തിലെ ഒരു ഓഹരിക്ക് 4.50 രൂപ എന്നതിന്‍റെ സ്ഥാനത്ത് 2024 സാമ്പത്തിക വർഷത്തിലെ ഒന്നാം അർദ്ധവർഷത്തിന് ഒരു ഓഹരിക്ക് 5.00 രൂപ എന്ന ഇടക്കാല ലാഭവിഹിതം പ്രഖ്യാപിച്
Operating Performance Review
(₹ billion)
| Financial Indicators | Q2 FY2023 | Q2 FY2024 | Growth
% |
H1 FY2023 | H1 FY2024 | Growth
% |
FY2023 |
| GDPI | 51.85 | 60.86 | 17.4% | 105.55 | 124.72 | 18.2% | 210.25 |
| PBT | 6.10 | 7.64 | 25.3% | 10.75 | 12.84 | 19.4% | 21.13 |
| PAT * | 5.91 | 5.77 | -2.2% | 9.40 | 9.68 | 3.0% | 17.29 |
*Excluding the reversal of tax provision in Q2 2023, PAT grew by 19.2% in H1 FY2024 and 24.8% in Q2 FY2024.
Ratios
| Financial Indicators | Q2 FY2023 | Q2 FY2024 | H1 FY2023 | H1 FY2024 | FY2023 |
| ROAE (%) –
Annualised |
24.5% | 21.1% | 19.9% | 18.0% | 17.7% |
| Combined Ratio (CoR)** | 105.1% | 103.9% | 104.6% | 103.7% | 104.5% |
** Excluding the impact of CAT losses CoR was 102.8% for Q2 FY2024 and 102.7% for H1 FY2024 whereas excluding the impact of CAT losses, CoR was 104.3% in Q2 FY2023 and 104.2% in H1FY2023.
Notes:
Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium
Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business
Return on Average Equity (ROAE) = Profit After Tax / ((Opening Net Worth + Closing Net Worth)/2)
Net Worth = Share Capital + Reserves & Surplus
About ICICI Lombard General Insurance Company Limited
ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 21 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade’. The company has issued over 32.7 million policies, settled
3.6 million claims and has a Gross Written Premium (GWP) of ₹ 217.72 billion for the year ended March 31, 2023. ICICI Lombard has 305 branches and 12,865 employees, as on March 31, 2023.
ICICI Lombard has been a pioneer in the industry and is the first large scale insurance company in India to migrate its entire core systems to cloud. With a strong focus on being digital led and agile, it has launched a plethora of tech-driven innovations, including the industry first Face Scan on its signature insurance and wellness App – IL TakeCare, with over 5.6 million downloads. The company has won several laurels including ET Corporate Excellence Awards, Golden Peacock Awards, FICCI Insurance Awards, National CSR awards etc. for its various initiatives. For more details log on to www.icicilombard.com
For further press queries, please get in touch with Ms. Rima Mane +91 99877 87103 or send an email to corporate.communication
For investor queries please get in touch with Mr. Sarvesh Agrawal +91 70450 91174 or send an email to sarvesh.agrawal / ir
Disclaimer
Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’ , ‘would’ , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion in business, the impact of any acquisitions, technological implementation and changes, the actual growth in demand for insurance products and services, investment income, cash flow projections, our exposure to market risks, policies and actions of regulatory authorities; impact of competition; the impact of changes in capital, solvency or accounting standards, tax and other legislations and regulations in the jurisdictions as well as other risks detailed in the reports filed by ICICI Bank Limited, our Promoter company with the United States Securities and Exchange Commission. ICICI Bank and we undertake no obligation to update forward-looking statements to reflect events or circumstances after the date there.
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