ICICI Lombard General Insurance Company

Net profit ease 2% with decline in capital gains in Q4FY2025

ICICI Lombard General Insurance Company has posted 2% decline in the net profit to Rs 509.59 crore in the quarter ended March 2025 (Q4FY2025). PBT fell 4% to Rs 668.20 crore in Q4FY2025 as against Rs 697.79 crore in Q4FY2024.

Gross Direct Premium Income (GDPI) of the Company was at Rs 6211 crore in Q4FY2025 as against Rs 6073 crore in Q4FY2024, a growth of 2.3%, compared to the industry growth of 1.7%.

The operating profit of the company declined 26% to Rs 415.92 crore in Q4FY2025, driven by losses int the health segment at Rs 150.57 crore and 34% dip in the operating profit of motor segment to Rs 168.03 crore. On the other hand, the fire segment has posted 25% jump in the operating profit to Rs 240.96 crore and marine segment posted 81% to Rs 39.08 crore. The operating profit of miscellaneous segment jumped 60% to Rs 95.93 crore, while the crop insurance posted 14% growth to Rs 22.49 crore in Q4FY2025.

Combined ratio was nearly stable at 102.5% in Q4FY2025 compared to 102.3% in Q4FY2024.

Capital gains dipped to Rs 6 crore in Q4FY2025 compared to Rs 156 crore in Q4FY2024.

The investment portfolio of the company increased 9% to Rs 53508 crore, of which the corporate bonds book stood at 45.4%, g-sec 33.7% and equity 15% end March 2025.

ROAE was at 14.5% in Q4FY2025 compared to 17.8% in Q4FY2024.

Solvency ratio was at 2.69x at end March 2025 as against 2.36x at end December 2024 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was at 2.62x at end March 2024.

Book value of the company stood at Rs 288.53 per share end March 2025. Book value including fair value change account (shareholders funds) stood at Rs 292.2 per share end March 2025.

The Company has proposed final dividend of Rs 7.00 per share for FY2025. The overall dividend for FY2025 including proposed finaldividend is Rs 12.50 per share.

Financial Performance FY2025

Gross Direct Premium Income (GDPI) of the Company was at Rs 26833 crore in FY2025 compared to Rs 24776 crore in FY2024, a growth of 8.3%, which was higher than the industry growth of 6.2%. With effect from 1 October 2024 Long-term Products are accounted on a 1/n basis, as mandated by IRDAI, hence Q4 & FY2025 are not comparable with prior years. Excluding the impact of 1/n accounting norm, GDPI of the Company grew by 11.0% for FY2025, which was higher than the industry growth of 8.6%.

Combined ratio was at 102.8% for FY2025 compared to 103.3% for FY2024. Excluding the impact of CAT losses of Rs 94 crore in FY2025 and Rs 137 crore in FY2024, the Combined ratio was 102.4% and 102.5% respectively.

Profit before tax (PBT) grew by 30.0% to Rs 3321 crore in FY2025 compared to Rs 2555 crore in FY2024.

Capital gains was at Rs 802 crore in FY2025 compared to Rs 551 crore in FY2024.

Consequently, Profit after tax (PAT) grew by 30.7% to Rs 2508 crore in FY2025 compared to Rs 1919 crore in FY2024.

Return on Average Equity (ROAE) was at 19.1% in FY2025 compared to 17.2% in FY2024.

ICICI Lombard General Insurance Company: Results Statement of Revenue Accounts
?	2503 (3)	2403 (3)	Var %	2503 (12)	2403 (12)	Var %
1. Premiums earned (net)	5225.58	4368.25	20	19800.20	16866.47	17
2. Profit / Loss on sale/ redemption of investments	625.26	789.65	-21	3155.90	2860.46	10
3. Others -	0.33	7.45	-96	-19.50	33.30	-159
4. Interest, Dividend & Rent Gross	0.00	0.00	-	0.00	0.00	-
Total (A)	5851.17	5165.35	13	22936.60	19760.23	16
?	?	?	?	?	?	?
1. Claims Incurred (net)	3743.17	2998.71	25	13986.81	11939.47	17
2. Commission (net)	1026.42	949.87	8	3838.03	3089.01	24
3. Operating expenses related to insurance business	665.66	655.22	2	2844.84	2825.85	1
4. Premium deficiency	0.00	0.00	-	0.00	0.00	-
Total Expenses (B)	5435.25	4603.80	18	20669.68	17854.33	16
?	?	?	?	?	?	?
Operating Profit/ Loss C=(A -B)	415.92	561.55	-26	2266.92	1905.90	19
APPROPRIATIONS	?	?	?	?	?	?
Transfer to P&L Account	415.92	561.55	-26	2266.92	1905.90	19
Transfer to Other Reserves	0.00	0.00	-	0.00	0.00	-

?

ICICI Lombard General Insurance Company: Results Statement of Profit & Loss Account
?	2503 (3)	2403 (3)	Var %	2503 (12)	2403 (12)	Var %
1. Operating profit/(loss)	415.92	561.55	-26	2266.92	1905.90	19
(a) Fire Insurance	240.96	193.33	25	783.31	503.83	55
(b) Marine Insurance	39.08	21.65	81	-7.20	27.21	-126
(c) Health	-150.57	12.67	-1288	-363.17	-114.02	219
(d) Crop	22.49	19.71	14	35.72	30.02	19
(e) Motor	168.03	254.31	-34	1467.61	1304.23	13
(f) Miscellaneous Insurance	95.93	59.88	60	350.65	154.63	127
?	?	?	?	?	?	?
2. Income from investments	200.32	233.25	-14	1004.82	844.84	19
3. Other income	59.27	0.48	12248	59.39	5.17	1049
Total Income (A)	675.51	795.28	-15	3331.13	2755.91	21
?	?	?	?	?	?	?
4. Provisions (Other than taxation)	-3.72	79.99	-105	-46.38	139.94	-133
5. Other expenses	11.03	17.50	-37	56.20	60.79	-8
?	?	?	?	?	?	?
Total Expenses (B)	7.31	97.49	-93	9.82	200.73	-95
?	?	?	?	?	?	?
Profit before tax (A-B)	668.20	697.79	-4	3321.31	2555.18	30
Provision for taxation	158.61	178.29	-11	813.02	636.59	28
Profit after tax	509.59	519.50	-2	2508.29	1918.59	31
EPS (Rs) *	41.1	41.9	?	50.6	38.7	?
Book Value (Rs) *	292.2	247.7	?	292.2	247.7	?
* on current equity of Rs 495.73 crore of face value of Rs 10 each, PL: Profit to Loss, LP: Loss to Profit, Source: Capitaline Corporate Database

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