Icici Bank Limited · NSE:ICICIBANK
Icici Bank — Q3 2025 Earnings Presentation
32 slides from Icici Bank's earnings presentation, Jan 26, 2025
Slide 1: 9M2025 Performance Review
9M2025 Performance Review
Slide 2: 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 3: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 4: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 12: 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 13: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 14: 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 15: Financial Performance
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 16: 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 17: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 18: 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 19: 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 20: 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 21: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 22: 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 23: 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 24: Thank You
Thank You
Slide 25: Annexure
D Icict€ombard Annexure ONEIL Team
Slide 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 32: 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