ICICI Lombard reported strong performance for FY2026, with the company achieving 18.2% growth in Q4 and 15.7% growth in H2, outpacing industry trends. A key driver was the retail health segment, which recorded a robust 51.1% growth. Despite competitive pressures, the company maintained disciplined underwriting, achieving a 102.4% combined ratio on an ‘n’ basis for the year and a profit after tax of ₹27.72 billion on a 1/n basis.
Fiscal Year Financial Highlights
ICICI Lombard delivered a resilient performance for the financial year ended March 31, 2026. The company recorded a profit after tax (PAT) of ₹27.72 billion on a 1/n basis, representing a 10.5% growth compared to the previous year. Excluding the impact of the wage code, this growth reached 12.2%. The company also announced a final dividend proposal of ₹7.00 per share, bringing the total dividend for the year to ₹13.50 per share.
Segment Performance and Strategic Growth
The company’s strategic focus on the retail health segment yielded impressive results, with growth reaching 51.1% for the year, significantly outpacing the industry. This success helped improve the company’s retail health market share to 4.1%, up from 3.3% in FY2025. Additionally, the motor segment showed a strong rebound in the second half of the year, with a growth rate of 12.0% in H2, exceeding industry performance.
Technological and Operational Initiatives
ICICI Lombard continues to prioritize digital-first initiatives to drive efficiency and customer satisfaction. The enterprise productivity platform, IL OneForce, is now utilized by over 10,000 sales employees to manage partner engagement and performance. Furthermore, the IL TakeCare app achieved 21.0 million downloads by the end of March 2026, facilitating a significant increase in premium earnings and simplifying the claim intimation process for customers. These digital efforts have contributed to improved efficiency, particularly in motor and health claims processing.
Future Outlook and Resilient Foundation
Looking ahead, the leadership remains optimistic about the company’s trajectory as it enters its 25th year of operations. With a strong solvency ratio of 2.67x, the company is well-positioned to navigate market cycles and invest in future growth. The management team highlighted that despite intensive competition in the commercial sector, their focus on disciplined underwriting and high-quality risk selection will continue to deliver consistent value to stakeholders.
Source: BSE
