ICICI Lombard announced its Q3 FY2026 earnings, reporting a 13.3% increase in Gross Direct Premium Income (GDPI) to ₹70.41 billion. The company highlights its focus on profitable growth through disciplined underwriting and portfolio diversification. Key growth areas include Retail Health, with a substantial 85.8% increase. The company emphasizes its digital initiatives and customer-centric approach to sustain long-term value creation while navigating competitive market dynamics and regulatory changes.
Financial Performance Highlights
ICICI Lombard reported a 13.3% growth in Gross Direct Premium Income (GDPI) for Q3 FY2026, reaching ₹70.41 billion, exceeding the industry growth rate of 11.5%. This resulted in an increased market share, moving from 8.1% to 8.3%. For the first nine months of FY2026, GDPI stood at ₹213.72 billion, a 3.6% increase compared to the previous year.
Segment Performance
The Retail Health segment saw remarkable growth of 85.8% in Q3 FY2026, significantly outperforming industry growth. The Motor segment rebounded in Q3 FY2026, growing by 9.3%, supported by new vehicle sales. The Commercial line segment grew by 7.4% in Q3 FY2026. The Engineering segment grew by 15.2%.
Strategic Initiatives
ICICI Lombard continues to focus on digital transformation, with the ‘One IL One Call Centre’ initiative showing strong momentum. Over 60% of service engagements were managed digitally in December 2025. The ‘IL TakeCare’ app has surpassed 19.7 million downloads and generated a GWP of ₹3.54 billion in the first nine months of FY2026.
Combined Ratio and Profitability
The combined ratio for Q3 FY2026 was 104.5% on a 1/n basis. Excluding the impact of CAT losses, the combined ratio was 104.3%. Investment income for the first nine months of the year reached ₹37.57 billion. Profit Before Tax (PBT) grew by 10.8% to ₹29.41 billion for the first nine months of FY2026.
Key Ratios
The Solvency ratio stood at 2.69x as of December 31, 2025, exceeding the regulatory requirement. Retail Indemnity loss ratios are 63.1%. The combined ratio for Q3 FY2026 was 103.1% on an n basis. Retail Health segment growth was fueled by new-to-industry customer growth of 1.7x for Q3 FY2026 and 1.4x for the first nine months.
Source: BSE
