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ICICI Lombard Q2 Net Profit Rises 15.5% to ₹946 Crore as Premium Income Grows

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ICICIGI₹1,713.00 1.25%

ICICI Lombard General Insurance Co. Ltd. (NSE:ICICIGI) reported a 15.48% increase in net profit to ₹946.40 crore for the second quarter, up from ₹819.54 crore in the prior-year period. Growth was anchored by a nearly 17% rise in net premium written to ₹6,213.66 crore, while gross premium written rose 9.11% to ₹7,702.09 crore. The insurer board declared an interim dividend of ₹7 per share for the first half of the financial year.

Top-line growth helped offset an uptick in operating costs. The insurer Expenses of Management ratio climbed 240 basis points to 36.3%, while its combined ratio—a measure of underwriting performance—worsened to 107% from 105.1% a year ago. In first-half segment performance, the company maintained market leadership in marine cargo and engineering, and recorded 13% growth in motor insurance with a 10.3% market share.

Going forward, market participants will monitor whether the insurer can rein in underwriting expenses to improve profitability metrics. Key focus will also rest on implementation details of proposed regulatory insurance distribution reforms aimed at simplifying structures and expanding coverage.

Key points

  • ICICI Lombard Q2 net profit increased 15.48% year-on-year to ₹946.40 crore.
  • Net premium written grew nearly 17% to ₹6,213.66 crore for the quarter.
  • The company combined ratio worsened to 107% in Q2 from 105.1% a year earlier.
  • An interim dividend of ₹7 per share was declared for the first half of the fiscal year.

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Questions and answers

What was ICICI Lombard net profit in Q2?

ICICI Lombard reported a net profit of ₹946.40 crore for the second quarter, up 15.48% from ₹819.54 crore in the same period last fiscal year.

Did ICICI Lombard announce a dividend?

Yes, the insurer declared an interim dividend of ₹7 per share for the first half of the fiscal year.

What happened to ICICI Lombard combined ratio in Q2?

The company combined ratio expanded to 107% in Q2 from 105.1% a year ago, reflecting higher underwriting costs as the Expenses of Management ratio rose to 36.3%.