ICICI Prudential Life Q3 Profit Rises 19%; ICICI Lombard Q3 Profit Declines 9%

ICICI Prudential Life Insurance reported a 19% year-on-year rise in Q3 net profit to Rs 390 crore, driven by strong retail protection growth and benefits from GST reforms, despite a 3-4% decline in net premium income. Meanwhile, ICICI Lombard General Insurance saw a 9% profit decline to Rs 659 crore due to higher claims, commissions, and employee costs, despite a 13% increase in gross direct premium income and strong growth in health and motor insurance segments. Analysts noted mixed outlooks amid rising expenses and underwriting challenges.