ICICI Lombard General Insurance Company (ICICIGI) Q3 25/26 earnings summary

Executive summary

• Reported strong Q3 and 9-month FY2026 results, with robust growth in health and fire segments, improved market share, and a legacy of trust and market leadership.

• Celebrated 25 years of operations, emphasizing strategic focus on profitable growth, diversified products, risk management, customer service, technology, and prudent capital management.

• Upgraded MSCI ESG rating to AAA, highlighting strong ESG practices and disclosures.

• Audited financial results for the quarter and nine months ended December 31, 2025, were approved by the Board, with an unmodified opinion from joint statutory auditors.

• Digital transformation initiatives, such as the IL TakeCare app, drove customer engagement and operational efficiency.

Financial highlights

• Gross Direct Premium Income (GDPI) grew 3.6% year-over-year to INR 213.72 billion for 9-month FY2026; Q3 GDPI up 13.3% to INR 70.41 billion.

• Profit after tax for 9M2026 reached INR 22.25 billion, up 11.3% year-over-year; Q3 PAT declined 9.1% to INR 6.59 billion.

• Investment income increased to INR 37.57 billion for 9-month FY2026, with capital gains at INR 9.33 billion.

• Combined ratio for 9M2026 was 104.2%; excluding wage code impact, combined ratio was 103.9%.

• Solvency ratio at 2.69x as of December 31, 2025, well above regulatory minimum.

Outlook and guidance

• Aims to outperform industry growth by 100–200 basis points, leveraging strong demand and digital capabilities.

• Targets sustaining ROE in the 18–20% range, focusing on profitable growth and market share gains.

• Continued focus on profitable growth, technology adoption, and expanding distribution channels.

• Emphasis on strengthening retail health and motor segments, and maintaining leadership in commercial lines.

• Financial results for the quarters are not indicative of full year's expected performance due to industry seasonality.