Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — H1 FY2025 Earnings Presentation
37 slides from Icici Lombard General Insurance's earnings presentation, Oct 18, 2024
Slide 1: Cover letter to stock exchanges
Ref. No.: MUM/SEC/167-10/2025 October 18, 2024 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: Cover letter signature page
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: 2024.10.18 17:02:56 +05'30' Vikas Mehra Company Secretary Encl. As above IRDA Reg. No. 115 CIN: L67200MH200
Slide 3: Performance for the quarter and half year ended September 30, 2024
October 18, 2024 PERFORMANCE FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2024 Gross Direct Premium Income (GDPI) of the Company stood at ₹ 144.09 billion in H1 FY2025 compared to ₹ 124.72 billion in H1 FY2024, a growth of 15.5%, which was higher than the industry growth of 7.0%. Excluding cr
Slide 4: Profit after tax, ROAE, solvency and operating performance review
Consequently, Profit after tax (PAT) grew by 31.7% to ₹ 12.74 billion in H1 FY2025 as against ₹ 9.68 billion in H1 FY2024. PAT grew by 20.2% to ₹ 6.94 billion in Q2 FY2025 from ₹ 5.77 billion in Q2 FY2024. Return on Average Equity (ROAE) was 20.3% in H1 FY2025 compared to 18.0% in H1 FY2024 whil
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: H1 2025 Performance Review
H12025 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 H12024 H12025 (₹ billion) Actual Actual Actual Actual Gross Written Premium 217.72 255.94 128.94 148.79 Gross Direct Premium Income (GDPI) 210.25 247.76 124.72 144.09 GDPI Growth 17.0% 17.8% 18.2% 15.5% Combined Ratio (CoR)* 104.5% 103.3% 103.8% 103.2% Profit
Slide 13: Comprehensive Product Portfolio
Comprehensive Product Portfolio Product Mix 10% 11% 12% 11% Others 4% 4% 3% 8% 9% 3% 3% 4% Crop 15% 14% 15% 13% Marine 27% 29% Fire 30% 30% Health, Travel & PA 21% 20% Motor TP 16% 16% Motor OD 20% 19% 16% 17% FY2023 FY2024 H12024 H12025 Diversified product mix– motor, health, travel & personal ac
Slide 14: Comprehensive Product Portfolio: Motor
Comprehensive Product Portfolio: Motor ₹ billion 72.4% 65.2% 65.8% 64.9% 85.82 96.34 40.13 48.51 Motor GDPI Mix Type H12024 H12025 44.31 48.94 Motor Private car 50.3% 52.9% 23.67 Two Wheeler 28.1% 25.3% 41.51 47.40 20.33 24.84 Commercial Vehicle 21.6% 21.8% 19.80 FY2023 FY2024 H12024 H12025 Loss Rat
Slide 15: Comprehensive Product Portfolio: Health
Comprehensive Product Portfolio: Health* ₹ billion Health, Travel & PA GDPI Mix 77.3% 78.9% 80.6% 83.2% Health, Travel & PA Type H12024 H12025 Individual 16.6% 17.8% Group – Others 28.0% 24.6% 55.92 71.17 36.94 43.35 Group Employer-Employee 55.3% 57.5% Mass 0.1% 0.1% FY2023 FY2024 H12024 H12025 Loss
Slide 16: Comprehensive Product Portfolio: P & C
Comprehensive Product Portfolio: P & C ₹ billion 59.7% 68.6% 73.4% 67.9% Property & Casualty (P&C) Market Share Property & Casualty Product H12024 H12025 Fire 13.0% 13.0% Engineering 17.5% 17.6% 59.73 68.51 37.61 40.01 Marine Cargo 19.5% 21.5% Liability 18.2% 18.8% FY2023 FY2024 H12024 H12025 Crop L
Slide 17: Digital Opportunities
Digital Opportunities Service Excellence Policy Issuance Claims & Servicing ILTakeCare App 17.2 Mn Policies sourced 1.6 Mn Claims honored 11.6 Mn+ ILTakeCare user downloads (9.3 Mn+ 99.1% issued electronically 67 Claims NPS in Q12025 at March 31, 2024) (99.3% in FY2024) (68 in Q42024 ) Automation an
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 ₹ billion Combined ratio (CoR) (%)* Return on average Equity (ROAE) (%) 104.5% 104.5% 21.1% 21.8% 20.3% 103.9% 17.7% 17.2% 18.0% 103.8% 103.3% 103.2% FY2023 FY2024 Q22024 Q22025 H12024 H12025 FY2023 FY2024 Q22024 Q22025 H12024 H12025 # Profit before Tax (PBT) Growth Profit afte
Slide 21: Robust Investment Performance
Robust Investment Performance ₹ billion Realised Return (%) Investment Book Investment Leverage 2 4.15x 4.09x 4.07x 3.91x 7.98% 7.50% 515.57 489.07 1 453.12 1 4.45% 431.80 3.97% 1 1 2.08% 2.19% FY2023 FY2024 Q22024 Q22025 H12024 H12025 FY2023 FY2024 H12024 H12025 Investment portfolio mix3 for H120
Slide 22: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 23: Safeguarding Environment
Safeguarding Environment Responsible Environment friendly Protecting the consumption business practices environment • Undertaking efforts towards • Creating capacities and developing • Adopting green measures for decarbonisation innovative risk solutions that aid communication across organization •
Slide 24: Contributing the Social Way
Contributing the Social Way Addressing Creating value for Enabling community customer needs employees awareness & development • Product & services enabling • “One IL One Team” philosophy with a • Supplier Code of Conduct to promote inclusiveness across SME, MSME, rural focus on building talent from
Slide 25: 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 • Optimum mix of Executive/Non- • Zero tolerance approach towards • Enfor
Slide 26: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 27: Non-life Insurance Market: Large TAM
Non - life Insurance Market : Large TAM* Significantly underpenetrated 9.3 Premium as a % of GDP (CY23) 6.0 India: US$ EA^: US$ World: US$ 2.6 2.1 2.3 35.77 billion 400.11 billion 4,297.18 billion 1.8 1.8 1.0 0.7 0.6 Non-Life Insurance Density (US$) 4th largest non-life insurance market in Asia an
Slide 28: Industry has witnessed steady growth
Industry has witnessed steady growth ₹ billion Industry CAGR IL CAGR 12.8%# Market Share of Private Players** 17.8%# 53.5% 51.4% 2,897.38 7.0%# 15.5% 2,568.94 15.5%# 13.1% 16.6% 53.6% 54.5% 73.3%* 1,539.11 1,437.98 36.6% 0.1% 294.98 100.87 FY2001 FY2008 FY2023 FY2024 H12024 H12025 Tariff era Non-Tar
Slide 29: Thank You
Thank You
Slide 30: Annexure
D Icict€ombard Annexure ONEIL Team
Slide 31: Loss Ratio
Loss Ratio Particulars FY2023 FY2024 Q22024 Q22025 H12024 H12025 Motor OD 72.6% 63.5% 64.1% 65.9% 65.5% 65.2% Motor TP 72.2% 66.8% 60.0% 60.2% 66.1% 64.7% Health,Travel & PA 77.3% 78.9% 82.3% 83.8% 80.6% 83.2% Crop 80.1% 88.4% 89.1% 95.8% 90.1% 97.1% Fire 49.3% 62.2% 61.1% 39.2% 71.7% 55.6% Marine 7
Slide 32: 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 - 4.58 5.57% North India floods 2024 - 3.75 6.66% Gujarat floods 2024 - 22.00 4.00% Cyclone Michaung 2023 120.00 25
Slide 33: 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 34: 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 35: 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 36: 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 37: 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 — H1 FY2025 Earnings Presentation on 6ix