Capitaline

Results 16-Apr-26

Analysis

ICICI Lombard General Insurance Company

Healthy premium collection growth, combined ratio improves

ICICI Lombard General Insurance Company has posted 7% growth in the net profit to Rs 546.56 crore in the quarter ended March 2026 (Q4FY2026). PBT moved up 7% to Rs 718.20 crore in Q4FY2026 as against Rs 668.20 crore in Q4FY2025.

Gross Direct Premium Income (GDPI) of the Company on a 1/n basis was at Rs 7340 crore in Q4FY2026 compared to Rs 6211 crore in Q4FY2025, a growth of 18.2%, as against the industry growth of 10.9%. Excluding Crop and Mass Health, GDPI growth of the Company on a 1/n basis was at 18.4%, as against the industry growth of 13.3% in Q4FY2026.

Combined ratio on a 1/n basis was at 101.2% in Q4FY2026 compared to 102.5% in Q4FY2025. Combined ratio on n basis was at 100.5% in Q4FY2026 compared to 102.1% in Q4FY2025.

PBT on a 1/n basis grew by 7.5% to Rs 718 crore in Q4FY2026 compared to Rs 668 crore in Q4FY2025.

PAT on a 1/n basis grew by 7.3% to Rs 547 crore in Q4FY2026 from Rs 510 crore in Q4FY2025. PAT on n basis grew by 15.6% to Rs 539 crore in Q4FY2026 from Rs 466 crore in Q4FY2025.

ROAE on a 1/n basis was at 13.3% in Q4FY2026 compared to 14.5% in Q4FY2025.

The investment portfolio of the company increased 9% to Rs 58421 crore, of which the corporate bonds book stood at 40.8%, g-sec 35.0% and equity 18.7% end March 2026.

Solvency ratio was at 2.67x at end March 2026 as against 2.69x at end December 2025 which was higher than the minimum regulatory requirement of 1.50x. The solvency was impacted by 14 basis points, as an outcome of the Mark to Market losses experienced on the equity portfolio at end March 2026.

Book value of the company stood at Rs 337.2 per share end March 2026. Book value including fair value change account (shareholders funds) stood at Rs 332.9 per share end March 2026.

Financial Performance FY2026

GDPI of the Company on a 1/n basis was at Rs 28712 crore in FY2026 compared to Rs 26833 crore in FY2025, a growth of 7.0%, as against the industry growth of 9.2%. Excluding Crop and Mass Health, GDPI growth of the Company on a 1/n basis was at 10.2% as against the industry growth of 13.3% in FY2026.

Combined ratio on a 1/ n basis was at 103.4% in FY2026 compared to 102.8% in FY2025. Combined ratio on n basis was at 102.4% in FY2026 compared to 102.6% in FY2025.

Profit before tax (PBT) on a 1/n basis grew by 10.2% to Rs 3659 crore in FY2026 compared to Rs 3321 crore in FY2025.

Consequently, Profit after tax (PAT) on a 1/n basis grew by 10.5% to Rs 2772 crore in FY2026 compared to Rs 2508 crore in FY2025. PAT on an n basis grew by 14.1% to Rs 2761 crore in FY2026 compared to Rs 2419 crore in FY2025.

Return on Average Equity (ROAE) on a 1/n basis was at 17.8% in FY2026 compared to 19.1% in FY2025.

The Company has proposed a final dividend of Rs 7.00 per share for FY2026. The overall dividend for FY2026, including the proposed final dividend, is Rs 13.50 per share. Last year, the overall dividend was Rs 12.50 per share.

ICICI Lombard General Insurance Company: Results Statement of Revenue Accounts
	2603 (3)	2503 (3)	Var %	2603 (12)	2503 (12)	Var %
1. Premiums earned (net)	5790.53	5225.58	11	22263.57	19800.20	12
2. Profit / Loss on sale/ redemption of investments	796.68	625.26	27	3547.36	3155.90	12
3. Others -	31.55	0.33	9461	84.01	-19.50	LP
4. Interest, Dividend & Rent Gross	0.00	0.00	-	0.00	0.00	-
Total (A)	6618.76	5851.17	13	25894.94	22936.60	13

1. Claims Incurred (net)	4099.80	3743.17	10	15828.47	13986.81	13
2. Commission (net)	1187.57	1026.42	16	4484.19	3838.03	17
3. Operating expenses related to insurance business	785.54	665.66	18	3058.55	2844.84	8
4. Premium deficiency	0.00	0.00	-	0.00	0.00	-
Total Expenses (B)	6072.91	5435.25	12	23371.21	20669.68	13

Operating Profit/ Loss C = (A -B)	545.85	415.92	31	2523.73	2266.92	11
APPROPRIATIONS
Transfer to P&L Account	545.85	415.92	31	2523.73	2266.92	11
Transfer to Other Reserves	0.00	0.00	-	0.00	0.00	-

ICICI Lombard General Insurance Company: Results Statement of Profit & Loss Account
	2603 (3)	2503 (3)	Var %	2603 (12)	2503 (12)	Var %
1. Operating profit/(loss)	545.85	415.92	31	2523.73	2266.92	11
(a) Fire Insurance	176.89	240.96	-27	630.51	783.31	-20
(b) Marine Insurance	-8.40	39.08	-121	-73.62	-7.20	923
(c) Health	-36.77	-150.57	-76	-13.03	-363.17	-96
(d) Crop	53.11	22.49	136	26.52	35.72	-26
(e) Motor	249.52	168.03	48	1613.80	1467.61	10
(f) Miscellaneous Insurance	111.50	95.93	16	339.55	350.65	-3

2. Income from investments	237.58	200.32	19	1183.50	1004.82	18
3. Other income	0.33	59.27	-99	9.74	59.39	-84
Total Income (A)	783.76	675.51	16	3716.97	3331.13	12

4. Provisions (Other than taxation)	48.74	-3.72	PL	-10.58	-46.38	-77
5. Other expenses	16.82	11.03	52	68.62	56.20	22

Total Expenses (B)	65.56	7.31	797	58.04	9.82	491

Profit before tax (A-B)	718.20	668.20	7	3658.93	3321.31	10
Provision for taxation	171.64	158.61	8	886.99	813.02	9
Profit after tax	546.56	509.59	7	2771.94	2508.29	11
EPS (Rs) *	43.9	41.1		55.6	50.9
Equity	498.5	495.7		498.5	495.7
Book Value (Rs) *	332.9	292.2		332.9	292.2
* 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

Previous News

ICICI Lombard General Insurance Company
( Results - Analysis 14-Jan-26 08:45 )

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( Corporate News - 02-Apr-26 19:42 )

ICICI Lombard General Insurance Company allots 61,961 equity shares under ESOS
( Corporate News - 23-Apr-26 13:40 )

ICICI Lombard General Insurance Co. to convene board meeting
( Corporate News - 22-Dec-23 12:51 )

ICICI Lombard General Insurance Company allots 27,660 equity shares under ESOP
( Corporate News - 13-Dec-23 17:34 )

ICICI Lombard General Insurance Company Ltd spurts 0.44%, gains for five straight sessions
( Hot Pursuit - 20-Sep-23 13:00 )

ICICI Lombard General Insurance Company allots 1.41 lakh equity shares under ESOS
( Corporate News - 04-Feb-25 17:41 )

ICICI Lombard General Insurance Company receives approval of IRDAI for appointment of Chairperson
( Corporate News - 15-May-24 09:14 )