Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — 9M FY2025 Earnings Presentation
38 slides from Icici Lombard General Insurance's earnings presentation, Jan 17, 2025
Slide 1: Cover letter to stock exchanges
Ref. No.: MUM/SEC/244-01/2025 January 17, 2025 To, The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot C/1 Dalal Street G Block, Bandra Kurla Complex, Mumbai – 400 001 Mumbai – 40
Slide 2: Letter closing and signature
You are requested to kindly take the same on your records. Thanking you. Yours faithfully, For ICICI Lombard General Insurance Company Limited Vikas Digitally signed by Vikas Mehra Mehra Date: 2025.01.17 16:45:40 +05'30' Vikas Mehra Company Secretary Encl. As above IRDA Reg. No. 115 CIN: L67200MH200
Slide 3: Performance for the Quarter and Nine Months Ended December 31, 2024
January 17, 2025 PERFORMANCE FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 With effect from October 1, 2024 Long-term Products are accounted on a 1/n basis, as mandated by IRDAI, hence Q3 & 9M FY2025 are not comparable with prior years. Gross Direct Premium Income (GDPI) of the Company w
Slide 4: PAT, ROAE, Solvency and Operating Performance Review
Consequently, Profit after tax (PAT) grew at 42.9% to ₹ 19.99 billion in 9M FY2025 as against ₹ 13.99 billion in 9M FY2024. o PAT grew at 67.9% to ₹ 7.24 billion in Q3 FY2025 from ₹ 4.31 billion in Q3 FY2024. Return on Average Equity (ROAE) was at 20.8% in 9M FY2025 compared to 17.1% in 9M FY202
Slide 5: Notes and About ICICI Lombard
Notes: Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business Return on Average Equity
Slide 6: Investor contact and Disclaimer
For investor queries please get in touch with Mr. Sarvesh Agrawal +91 70450 91174 or send an email to sarvesh.agrawal@icicilombard.com / ir@icicilombard.com. Disclaimer Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' ,
Slide 7: 9M2025 Performance Review
9M2025 Performance Review
Slide 8: Safe harbor
Safe harbor : Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' , 'would' , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These f
Slide 9: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 10: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 11: Pillars of Strength
Pillars of Strength Consistent Market Diverse products Excellence in Risk Capital Leadership and and multi-channel Customer service Management Conservation growth distribution and Technology • Leading private • Comprehensive and • Leveraging on • Profitable growth • Maintain high level of sector non
Slide 12: Key Highlights
Key Highlights Particulars FY2023 FY2024 9M2024 9M2025 (₹ billion) Actual Actual Actual Actual Gross Written Premium 217.72 255.94 193.31 213.54 Gross Direct Premium Income (GDPI) 210.25 247.76 187.03 206.23 GDPI Growth 17.0% 17.8% 16.5% 10.3% Combined Ratio (CoR) 104.5% 103.3% 103.7% 102.9% Profit
Slide 13: Comprehensive Product Portfolio
Comprehensive Product Portfolio Product Mix 10% 11% 11% 11% Others 4% 4% 6% 7% 3% 3% 3% 3% Crop 15% 14% 14% 12% Marine 27% 29% 28% Fire 29% Health, Travel & PA 21% 20% 19% Motor TP 19% Motor OD 20% 19% 18% 20% FY2023 FY2024 9M2024 9M2025 Diversified product mix– motor, health, travel & personal ac
Slide 14: Comprehensive Product Portfolio: Motor
Comprehensive Product Portfolio: Motor ₹ billion 72.4% 65.2% 64.9% 62.1% 85.82 Motor GDPI Mix 96.34 68.55 79.59 Type 9M2024 9M2025 48.94 Private Car 51.4% 52.9% 44.31 39.12 Motor 34.68 Two Wheeler 27.8% 25.8% 41.51 47.40 Commercial Vehicle 20.8% 21.3% 33.87 40.47 FY2023 FY2024 9M2024 9M2025 Loss c
Slide 15: Comprehensive Product Portfolio: Health
Comprehensive Product Portfolio: Health* ₹ billion 77.3% 78.9% 82.5% Health, Travel & PA GDPI Mix 80.1% Health, Travel & PA Type 9M2024 9M2025 Individual 17.3% 19.5% Group – Others 30.0% 24.0% 55.92 71.17 53.19 57.88 Group Employer-Employee 52.6% 56.4% Mass 0.1% 0.1% FY2023 FY2024 9M2024 9M2025 Loss
Slide 16: Comprehensive Product Portfolio: P & C
Comprehensive Product Portfolio: P & C ₹ billion 59.7% 68.6% 71.4% 64.8% Property & Casualty Property & Casualty (P&C) Market Share Product 9M2024 9M2025 Fire 13.0% 12.8% Engineering 17.8% 17.2% 59.73 68.51 53.62 54.64 Marine Cargo 19.4% 20.9% Liability 19.1% 19.2% FY2023 FY2024 9M2024 9M2025 Loss R
Slide 17: Digital Opportunities
Digital Opportunities Service Excellence Policy Issuance Claims & Servicing ILTakeCare App 28.1 Mn Policies sourced 2.4 Mn Claims honored 13.2 Mn+ ILTakeCare user downloads (9.3 Mn+ 99.5% issued Average claims settlement at March 31, 2024) electronically 5 Days Motor OD (6 days in FY2024) (99.3% in
Slide 18: Risk Management
Risk Management Underwriting Reinsurance Predictive ultimate loss model to improve risk selection Spread of risk across panel of quality re-insurers Diversified exposure across geographies and products Conservative level of catastrophe (CAT) protection Historically lower proportion of loss
Slide 19: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 20: Financial Performance
Financial Performance Combined ratio (CoR) (%) Return on average Equity (ROAE) (%) ₹ billion 104.5% 103.7% 103.3% 103.6% 102.9% 21.5% 102.7% 20.8% 17.7% 17.2% 17.1% 15.3% FY2023 FY2024 Q32024 Q32025 9M2024 9M2025 FY2023 FY2024 Q32024 Q32025 9M2024 9M2025 Profit before Tax (PBT) Growth Profit after T
Slide 21: Financial Performance: Excluding 1/n Impact
Financial Performance Particulars Excluding 1/n Impact With 1/n Impact (₹ in billions) Q32025 9M2025 Q32025 9M2025 GDPI 65.26 209.35 62.14 206.23 GDPI Growth 4.8% 11.9% -0.3% 10.3% PAT 6.78 19.53 7.24 19.99 PAT Growth 57.3% 39.6% 67.9% 42.9% Return on Average Equity 20.2% 20.3% 21.5% 20.8% Combined
Slide 22: Robust Investment Performance
Robust Investment Performance ₹ billion 2 Realised Return (%) Investment Book Investment Leverage 4.15x 4.09x 4.11x 3.76x 7.98% 7.50% 1 515.97 1 6.69% 489.07 5.89% 468.67 431.80 1 1 1.84% 2.15% FY2023 FY2024 Q32024 Q32025 9M2024 9M2025 FY2023 FY2024 9M2024 9M2025 Investment portfolio mix3 for 9M20
Slide 23: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 24: Safeguarding Environment
Safeguarding Environment Responsible Environment friendly Protecting the consumption business practices environment • Focused efforts towards • Creating capacities and developing • Adopting green measures for decarbonisation innovative risk solutions that aid communication across organization • Depl
Slide 25: Contributing the Social Way
Contributing the Social Way Addressing Creating value for Enabling community customer needs employees awareness & development • Product & services enabling inclusiveness • “One IL One Team” philosophy with a • Supplier Code of Conduct to promote across SME, MSME, rural community, focus on building t
Slide 26: Strong Governance
Strong Governance Robust Structure Code of Conduct Data Security • CSR & Sustainability Board Committee • Conducting business with highest • Dedicated Information Security oversight standards of compliance and ethics Committee, Information Technology • Zero tolerance approach towards Strategy Commit
Slide 27: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 28: Non-life Insurance Market: Large TAM
Non - life Insurance Market : Large TAM* 9.3 Significantly underpenetrated Premium as a % of GDP (CY23) 6.0 2.6 India: US$ EA^: US$ World: US$ 2.1 2.3 1.8 1.8 35.77 billion 400.11 billion 4,297.18 billion 1.0 0.7 0.6 4th largest non-life insurance market in Asia and 7,504 Non-Life Insurance Densit
Slide 29: Industry has witnessed steady growth
Industry has witnessed steady growth ₹ billion Industry CAGR IL CAGR 12.8%# Market Share of Private Players** 17.8%# 7.8%# 53.5% 10.3%# ^ 51.4% 2,897.38 15.5% 53.7% 2,568.94 53.9% 2,302.02 13.1% 2,134.77 16.6% 73.3%* 36.6% 0.1% 294.98 100.87 FY2001 FY2008 FY2023 FY2024 9M2024 9M2025 Tariff era Non-T
Slide 30: Thank You
Thank You
Slide 31: Annexure
D Icict€ombard Annexure ONEIL Team
Slide 32: Loss Ratio
Loss Ratio Particulars FY2023 FY2024 Q32024 Q32025 9M2024 9M2025 Motor OD 72.6% 63.5% 64.9% 62.0% 65.3% 64.1% Motor TP 72.2% 66.8% 61.6% 51.3% 64.6% 60.1% Health,Travel & PA 77.3% 78.9% 79.2% 81.3% 80.1% 82.5% Crop 80.1% 88.4% 99.0% 68.1% 91.9% 91.1% Fire 49.3% 62.2% 68.2% 40.2% 70.6% 50.1% Marine 7
Slide 33: Impact of catastrophic events: Historical snapshot
Impact of catastrophic events: Historical snapshot ₹ billion Economic Insured Our Share of Catastrophic Event Year Losses* losses* Insured losses Andhra Pradesh & Telangana floods 2024 - 5.00 5.49% North India floods 2024 - 4.00 6.39% Gujarat floods 2024 - 22.00 5.28% Cyclone Michaung 2023 120.00 25
Slide 34: Abbreviations & Glossary
Abbreviations & Glossary: AI - Artificial Intelligence IBNR – Incurred But Not Reported AT 1 - Additional Tier-1 IL – ICICI Lombard General Insurance Company Limited App - Application ISO – International Organization for Standardization AY – Accident Year IMTPIP – Indian Motor Third Party Insurance
Slide 35: Reserving Triangle Disclosure: Total
Reserving Triangle Disclosure: Total1 ₹ billion Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2024 Prior* AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 End of First Year 183.44 44.37 49.39 59.24 62.46 77.00 87.33 83.76 101.17 114.84 130.33 One year later 18
Slide 36: Reserving Triangle Disclosure: IMTPIP
Reserving Triangle Disclosure: IMTPIP ₹ billion Incurred Losses and Allocated Expenses (Ultimates movement) As at March 31, 2024 AY 08 AY 09 AY 10 AY 11 AY 12 AY 13 End of First Year 2.71 One year later 3.85 2.72 Two years later 4.49 3.85 3.54 Three years later 5.81 4.49 5.52 3.61 Four years later 6
Slide 37: Reserving Triangle Disclosure: Motor-TP (excl. IMTPIP)
Reserving Triangle Disclosure: Motor-TP (excl. IMTPIP) ₹ billion Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2024 Prior* AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 End of First Year 28.60 12.63 15.97 17.05 19.98 24.41 31.55 25.15 28.07 35.39 38.07 One
Slide 38: Reserving Triangle Disclosure: Total (excl. Motor-TP)
Reserving Triangle Disclosure: Total (excl. Motor-TP) ₹ billion Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2024 Prior* AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 End of First Year 154.85 31.74 33.42 42.19 42.48 52.58 55.78 58.61 73.11 79.46 92.26 One
ICICI Lombard General Insurance Company — 9M FY2025 Earnings Presentation on 6ix