ICICI Lombard GI FY’10 net profit at Rs 144 cr

“We will continue to invest in robust underwriting,cost effective distribution and a scalable service architecture while seeking to build long term franchise,” ICICI Lombard General Insurance Managing Director Bhargav Dasgupta said.

On a year-on year,the gross written premium of the insurer dropped to Rs 3,694.7 crore at the end of FY’10,from Rs 3,749.2 crore in the year-ago period.

During the year the company issued over 44 lakh policies compared to 40 lakh issued in FY’09,the statement added.