ICICI Lombard posts 22% rise in Q3 profit as premiums climb

ICICI Lombard General Insurance, an Indian insurance company backed by ICICI Bank, has reported a 22.4% increase in profit for the third quarter. The rise in profit is attributed to growth in premiums and investment income. According to the company's exchange filing, the profit after tax for the quarter ended December 31 reached 4.31 billion rupees (approximately $52 million), compared to 3.53 billion rupees ($42.61 million) in the same period last year. ICICI Lombard specializes in non-life insurance, offering coverage for health, fire, and motor segments.