ICICI Lombard profit slips, gross premium income up

Gross direct premium income (GDPI) rose 2.3% on year to ₹6,211 crore in Q4, outpacing industry growth of 1.7%. However, due to a change in accounting norms for long-term products effective October 2024, the full-year numbers are not strictly comparable, the company said. On the fire side, the company is expecting double-digit growth for the industry.