ICICI Lombard General Insurance reported a net profit of Rs 212 crore for the quarter-ended March 31, 2018, a growth of 18% over the corresponding period of the previous year. Even for the financial year 2017-18, the general insurer saw its net profit swell 22.8% to Rs 862 crore, largely due to the improvement in combined ratio (the sum of net claims, commissions and expenses divided by the net earned premium). The insurer's combined ratio improved to 100.2% in last financial year as compared to 103.9% in the previous financial year, driven by the reduction in the loss ratio to 76.9% in FY2018 from 80.4% in FY2017. However, the loss ratio was 78.5% in Q4 FY2018 as compared to 75.4% in Q4 FY2017 due to adverse crop loss experience. Bhargav Dasgupta, managing director & chief executive officer of ICICI Lombard General Insurance, said, \u201cDriver for the performance in the last financial year was improvement in combined ratio for the company. Except for third-party motor insurance and crop insurance all segments have seen improved loss ratio.\u201d He added that the loss ratio in crop insurance for the last fiscal stood at 135%, and they earned net premium of over Rs 544 crore from crop insurance. The gross direct premium income (GDPI) in 2017-18 financial year increased to Rs 12,357 crore from Rs 10,725 crore in the preceding year, a growth of 15.2%. The GDPI was up 9.8% to Rs 2,926 crore in Q4 of last financial year as against Rs 2,666 crore in the year-ago quarter, the company said in a statement. The company's net worth swelled to Rs 4,541 crore on March 31, 2018 from Rs 3,727 crore on March 31,2017. The company paid an interim dividend of Rs 1.50 per share during the year. The Board has proposed final dividend of Rs 2.50 per share for FY2018. The overall dividend for FY2018 including proposed final divided is Rs 4 per share. \u201cIn terms of growth, what our view has been and continues to be, for the foreseeable future is that in the next three-five years, the industry will grow at 15-20%,\u201d added Dasgupta.