ICICI Lombard General Insurance Company Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
ICICI Lombard reported GDPI growth of 7.5% for Q1 FY2027 against industry growth of 10.9%, with the combined ratio at 107.2% compared to 102.9% in Q1 FY2026. Profit after tax declined 46.0% to Rs 4.03 billion, impacted by two large fire losses and a Rs 1.65 billion reserve provision related to a Supreme Court judgement on Motor TP compensation. Management described growth across motor and health segments while noting continued pricing pressure in the fire line of business.
ICICI Lombard reported FY2026 Gross Direct Premium Income growth of 7.0%, with Profit After Tax on a 1/n basis rising 10.5% to Rs 27.72 billion. Management described elevated competitive intensity and pricing pressure in Commercial Lines and continued industry-wide stress on Motor combined ratios, while highlighting strong growth in Retail Health and digital initiatives such as IL OneForce and IL TakeCare. The company also discussed its planned approach to transitioning to Ind AS accounting, including seeking forbearance for the first year.