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ICICI Lombard General Insurance Company
15-Oct-2025 | 08:22
Net profit up 18% in Q2FY26
ICICI Lombard General Insurance Company has posted healthy 18% growth in the net profit to Rs 819.54 crore in the quarter ended September 2025 (Q2FY2026). PBT improved 17% to Rs 1077.27 crore in Q2FY2026 as against Rs 919.01 crore in Q2FY2025. GDPI of the Company was at Rs 6596 crore in Q2 FY2026 compared to Rs 6721 crore in Q2 FY2025, a de-growth of 1.9%, as against the industry growth of 5.9%. Excluding Crop and Mass Health, GDPI growth of the Company was at 3.5%, as against the industry growth of 9.8% in Q2 FY2026. The operating profit of the company increased 13% to Rs 752.66 crore in Q2FY2026, driven by 14% jump in the profit from motor segment to Rs 569.54 crore and health segment witnessed rebound in the profit to 65.00 crore from operating loss of Rs 100.6 crore in Q2FY2025. On the other hand, the fire segment has posted 9% decline in the operating profit to Rs 156.70 crore, while miscellaneous segment also posted 67% dip to Rs 40.53 crore. The margin segment posted operating loss of Rs 32.58 crore and the operating loss for the crop segment was at Rs 46.53 crore in Q2FY2026. Combined ratio rose to 105.1% in Q2FY2026 compared to 104.5% in Q2FY2025. Capital gains was at Rs 236 crore in Q2 FY2026 compared to Rs 237 crore in Q2 FY2025. The investment portfolio of the company increased 9% to Rs 56200 crore, of which the corporate bonds book stood at 47.6%, g-sec 34% and equity 14.4% end September 2025. ROAE was at 21.4% in Q2 FY2026 compared to 21.8% in Q2 FY2025. Solvency ratio was at 2.73x as at end September 2025 as against 2.70x as at end June 2025 which was higher than the minimum regulatory requirement of 1.50x. Solvency ratio was at 2.69x as at end March 2025.
Book value of the company stood at Rs 316.8 per share end September 2025. Book value including fair value change account (shareholders funds) stood at Rs 321.5 per share end September 2025.
Financial Performance H1FY2026
Profit after tax (PAT) grew by 22.9% to Rs 1567 crore in H1FY2026 compared to Rs 1274 crore in H1FY2025. Profit before tax (PBT) grew by 22.3% to Rs 2071 crore in H1FY2026 compared to Rs 1693 crore in H1FY2025. Capital gains was at Rs 616 crore in H1FY2026 compared to Rs 521 crore in H1FY2025. Gross Direct Premium Income (GDPI) of the Company was at Rs 14331 crore in H1FY2026 compared to Rs 14409 crore in H1FY2025, a de-growth of 0.5%, as against the industry growth of 7.3%. Excluding the impact of 1/n accounting norm, GDPI of the Company grew by 4.2% for H1FY2026, as against the industry growth of 11.3%. Excluding Crop and Mass Health, GDPI growth of the Company was at 3.5%, as against the industry growth of 10.5% in H1FY2026. Combined ratio was at 104.0% in H1FY2026 compared to 103.2% in H1FY2025. Excluding the impact of CAT losses of Rs 73 crore in H1FY2026 and Rs 94 crore in H1FY2025, the Combined ratio was 103.3% and 102.2% respectively. Combined ratio was at 105.1% in Q2 FY2026 compared to 104.5% in Q2 FY2025. Excluding the impact of CAT losses of Rs 73 crore in Q2FY2026 and Rs 94 crore in Q2 FY2025, the Combined ratio was 103.8% and 102.6% respectively. Return on Average Equity (ROAE) was at 20.8% in H1FY2026 compared to 20.3% in H1FY2025. The Company has declared interim dividend of Rs 6.50 per share for H1FY2026 as against Rs 5.50 per share for H1FY2025.| ICICI Lombard General Insurance Company: Results Statement of Revenue Accounts | |||||||||
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| 2509 (3) | 2409 (3) | Var % | 2509 (6) | 2409 (6) | Var % | 2503 (12) | 2403 (12) | Var % |
| 1. Premiums earned (net) | 5651.65 | 5025.57 | 12 | 10787.74 | 9529.45 | 13 | 19800.20 | 16866.47 | 17 |
| 2. Profit / Loss on sale/ redemption of investments | 898.93 | 846.25 | 6 | 1841.67 | 1690.82 | 9 | 3155.90 | 2860.46 | 10 |
| 3. Others - | 32.09 | -21.17 | LP | 36.62 | -17.67 | LP | -19.50 | 33.30 | PL |
| 4. Interest, Dividend & Rent Gross | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| Total (A) | 6582.67 | 5850.65 | 13 | 12666.03 | 11202.60 | 13 | 22936.60 | 19760.23 | 16 |
| 1. Claims Incurred (net) | 4074.38 | 3587.01 | 14 | 7824.48 | 6921.42 | 13 | 13986.81 | 11939.47 | 17 |
| 2. Commission (net) | 1012.77 | 844.72 | 20 | 1953.52 | 1649.20 | 18 | 3838.03 | 3089.01 | 24 |
| 3. Operating expenses related to insurance business | 742.86 | 754.75 | -2 | 1481.24 | 1466.34 | 1 | 2844.84 | 2825.85 | 1 |
| 4. Premium deficiency | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| Total Expenses (B) | 5830.01 | 5186.48 | 12 | 11259.24 | 10036.96 | 12 | 20669.68 | 17854.33 | 16 |
| Operating Profit/ Loss C=(A -B) | 752.66 | 664.17 | 13 | 1406.79 | 1165.64 | 21 | 2266.92 | 1905.90 | 19 |
| APPROPRIATIONS | |||||||||
| Transfer to P&L Account | 752.66 | 664.17 | 13 | 1406.79 | 1165.64 | 21 | 2266.92 | 1905.90 | 19 |
| Transfer to Other Reserves | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| ICICI Lombard General Insurance Company: Results Statement of Profit & Loss Account | |||||||||
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| 2509 (3) | 2409 (3) | Var % | 2509 (6) | 2409 (6) | Var % | 2503 (12) | 2403 (12) | Var % |
| 1. Operating profit/(loss) | 752.66 | 664.17 | 13 | 1406.79 | 1165.64 | 21 | 2266.92 | 1905.90 | 19 |
| (a) Fire Insurance | 156.70 | 171.85 | -9 | 268.21 | 292.15 | -8 | 783.31 | 503.83 | 55 |
| (b) Marine Insurance | -32.58 | -23.15 | 41 | -48.35 | -34.87 | 39 | -7.20 | 27.21 | PL |
| (c) Health | 65.00 | -100.60 | LP | -8.96 | -127.60 | -93 | -363.17 | -114.02 | 219 |
| (d) Crop | -46.53 | -7.57 | 515 | -44.23 | -9.09 | 387 | 35.72 | 30.02 | 19 |
| (e) Motor | 569.54 | 500.52 | 14 | 1119.04 | 875.22 | 28 | 1467.61 | 1304.23 | 13 |
| (f) Miscellaneous Insurance | 40.53 | 123.12 | -67 | 121.08 | 169.83 | -29 | 350.65 | 154.63 | 127 |
| 2. Income from investments | 318.75 | 275.48 | 16 | 635.49 | 528.38 | 20 | 1004.82 | 844.84 | 19 |
| 3. Other income | 0.93 | 0.05 | 1760 | 9.37 | 0.09 | 10311 | 59.39 | 5.17 | 1049 |
| Total Income (A) | 1072.34 | 939.70 | 14 | 2051.65 | 1694.11 | 21 | 3331.13 | 2755.91 | 21 |
| 4. Provisions (Other than taxation) | -27.28 | -0.20 | 13540 | -55.68 | -35.73 | 56 | -46.38 | 139.94 | -133 |
| 5. Other expenses | 22.35 | 20.89 | 7 | 36.35 | 36.84 | -1 | 56.20 | 60.79 | -8 |
| Total Expenses (B) | -4.93 | 20.69 | LP | -19.33 | 1.11 | PL | 9.82 | 200.73 | -95 |
| Profit before tax (A-B) | 1077.27 | 919.01 | 17 | 2070.98 | 1693.00 | 22 | 3321.31 | 2555.18 | 30 |
| Provision for taxation | 257.73 | 225.06 | 15 | 504.36 | 418.68 | 20 | 813.02 | 636.59 | 28 |
| Profit after tax | 819.54 | 693.95 | 18 | 1566.62 | 1274.32 | 23 | 2508.29 | 1918.59 | 31 |
| EPS (Rs) * | 65.9 | 56.1 | 63.3 | 51.5 | 50.9 | 38.9 | |||
| Equity | 497.5 | 494.7 | 497.5 | 494.7 | 495.7 | 492.7 | |||
| Book Value (Rs) * | 321.5 | 275.4 | 321.5 | 275.4 | 292.2 | 247.7 | |||
| * EPS and BV are calculated on diluted equity as given for each year. Face value of Rs 10 each, PL: Profit to Loss, LP: Loss to Profit, Figures in crore Source: Capitaline Corporate Database | |||||||||
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