ICICI Lombard General Insurance shares tumble 15% after Q1 profit takes a hit

ICICI Lombard General Insurance shares tumbled 15% on Thursday after the company reported a 46% year-on-year decline in Q1 FY27 net profit to Rs 403 crore. Large fire claims and a Supreme Court verdict on Motor TP reserves hit the insurer hard, even as gross premium income rose by 7.5%.