Though the company’s combined ratio has improved from 102.50 per cent in Q4FY25 to 101.21 per cent in Q4FY26, its underwriting losses have flared up by 34 per cent to Rs 282,38 per cent during the said period.
New Delhi: ICICI Lombard General Insurance, the second largest general insurer in the country, on Wednesday reported a 7.3 per cent rise in net profit to Rs 547 crore for the March quarter of 2025-26.
The largest private general insurer’s gross premium has risen by 26 per cent to Rs8,737 crore in the reporting quarter.
Though the company’s combined ratio has improved from 102.50 per cent in Q4FY25 to 101.21 per cent in Q4FY26, its underwriting losses have flared up by 34 per cent to Rs 282,38 per cent during the said period.
The total claims by the insurers has also grown by 16 per cent to Rs 3,924 crore in the March quarter.
Along with an incurred claim ratio(ICR), which has improved marginally from 71.60 per cent in Q4FY25 to 70.80 per cent in Q4FY26 and its expenses of management(EoM) has also become better at 32.10 per cent in March quarter from 32.8 per cent in the year-ago period.
The insurer has underwriting profit in portfolios like Fire,Crop and Misllenious while recording losses in Marine, Health(Both Retail and Group) and Motor in the last quarter of FY 25.However its Motor portfolio has been profitable after taking into account the investment income in the portfolio.
ICICI Lombard General has increased its retention at 80.40 per cent in Q4FY26 from 79.40 per cent in Q4FY25.
Its net profit grew by 10.5 per cent to Rs 2772 crore in FY2026 compared to Rs 2508 crore in FY2025. Gross Premium of the company was at Rs 28,712 crore in FY2026 compared to Rs 26,833 billion in FY2025, a growth of 7.0 per cent, as against the industry growth of 9.2 per cent.
Shyam Srinivasan, former MD&CEO of Federal Bank has joined the company as an independent director.