ICICI Lombard General Insurance Company

“If you take out Crop and Mass Health, industry grew at about 13.2% in Q2. Our growth was 13.9%. So, we actually had an outperformance in terms of the overall numbers. And that is the momentum that one expects to continue even as we head into Quarter 3 and Quarter 4.”

“Excluding Fire, our Commercial lines portfolio registered a healthy growth of 20.0% in Q2 FY2027 and 13.2% for H1 FY2027, with broad-based traction across Lines of Business (LoBs).”

“Within Fire, the pace of decline moderated significantly, with de-growth reducing to 21.2% in Q2 FY2027 from 32.1% in Q1 FY2027.”

“We have gained market share in Q2 FY2027 vis-à-vis Q2 FY2026 in Fire from 11.4% to 11.9%, in Marine cargo from 17.1% to 19.0%, in Engineering from 15.8% to 16.4% and in Liability from 16.1% to 16.6%.”

“In the Motor segment, we recorded a healthy growth of 13.0% for H1 FY2027, broadly in line with the industry growth of 13.1% for H1 FY2027, thereby maintaining our market leadership position with a market share of 10.3% for H1 FY2027.”

“Our portfolio mix for Private Car, Two-wheeler and Commercial Vehicle stood at 49.8%, 28.1% and 22.1% respectively, for H1 FY2027.”

“It is, if you look over quarters, will be a big plus for the industry in every possible manner over time is what we will say at this point of time.”

“I think first half year relative to half year of last year, I think we have been able to see an improved retention in that range of 3% to 5%.”

“Having said that, obviously from Quarter 3, you will have maybe the base effect kind of catching up to some extent because we had the GST reforms kind of play out from October of last year.”

“But the simple answer is 131% at the industry level, it's certainly for Motor not a workable combined ratio, whichever way one looks at it.”

“So, honestly, that is what we have always maintained when relatively if the competitive intensity is to see a positive change, ICICI Lombard will obviously be a key beneficiary of the market share change.”

“Our Combined ratio was 104.5% in Q2 FY2027 as against 103.9% in Q2 FY2026.”

“Combined Ratio was 105.2% for H1 FY2027 as against 103.0% for H1 FY2026.”

“The same numbers in the current Quarter 2 for Group Health is 97.9% and retail indemnity is 64.6%.”

“And there if you would have seen the numbers for H1 last year was about 66.6% for overall Motor. And H1 of the current year, the number is at about 65.4%.”

“And yes, you are right, if one was to kind of take out the impact of the flood losses in the Quarter 2 OD loss ratios numbers, the number will be sequentially better than what you would have seen in Q1.”

“Solvency ratio was at 2.74x as at September 30, 2026, as against 2.68x as at June 30, 2026, continued to be higher than the minimum regulatory requirement of 1.50x.”

“Our investment assets during the quarter rose to ₹ 643.32 billion as at September 30, 2026, from ₹ 605.79 billion as at June 30, 2026.”

“Our investment leverage (net of borrowings) was 3.58x as at September 30, 2026, as against 3.59x as at June 30, 2026.”

“To commemorate this significant milestone, ICICI Lombard unveiled 25 innovative solutions across multiple lines of business including offerings such as Complete Home Protect, Paw Care, Motor Service Assure and Power Booster Plus, amongst others.”

“On the same day, we also launched our latest Health insurance offering, Vibe, for our Gen customers, designed to provide a comprehensive wellness solution that goes beyond traditional Health insurance protection.”

“But that being said, there are certain products by sheer nature like the VIBE product that we have launched for Gen-Z as a category would be delivered on the Digital First Platform because that is the way Gen-Z will prefer to buy.”

“The Board of Directors of the company has declared interim dividend of ₹ 7.00 per share for H1 FY2027 as against ₹ 6.50 per share for H1 FY2026.”

“Excluding the impact of CAT losses of ₹ 1.18 billion in Q2 FY2027 and ₹ 0.73 billion in Q2 FY2026, the Combined ratio was 102.7% and 102.6% respectively.”

“I think we had considered for a reserving requirement of ₹1.65 billion in Q1.”

“But we have had that in Quarter 1 coming through a space of 48 hours, which impacted our loss ratio, and we had that almost 118%.”

“During Q2 FY2027, we have calibrated our business operations to factor in the implications of the judgement, and the same has now been fully integrated into our regular course of business.”

“Hence, to that extent, what we have been able to achieve is on the extent of the reserving, we do not anticipate any need for any further requirement of provision for reserves.”

“So, clearly, as we also said to our investors, it is a landmark change, truly a recalibration in terms of how insurance will get distributed probably from next year onwards and whatever the regulator has put across is a reboot in many ways.”

“So, it is playing out both ways and early days to say how it will get addressed.”

“And you have seen this particular quarter getting impacted by severe flooding events across different states.”

“Consequently, PAT grew by 27.5% and stood at ₹ 10.31 billion for Q2 FY2027 from ₹ 8.09 billion in Q2 FY2026.”

“Our Profit after tax (PAT), de-grew by 5.8% and stood at ₹ 14.54 billion in H1 FY2027 as against ₹ 15.43 billion in H1 FY2026.”

“Our Profit before tax (PBT), grew by 27.8% at ₹ 13.59 billion in Q2 FY2027 as against ₹ 10.63 billion in Q2 FY2026”

“The RoAE for Q2 FY2027 was 23.7% as against 21.3% in Q2 FY2026.”

“On a quarterly basis, investment income was at ₹ 15.54 billion in Q2 FY2027 as against ₹ 12.49 billion in Q2 FY2026.”