Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — 9M FY2026 Earnings Presentation
39 slides from Icici Lombard General Insurance's earnings presentation, Jan 13, 2026
Slide 1: Exchange intimation cover letter
Ref. No.: MUM/SEC/186-01/2025-26 January 13, 2026 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 –
Slide 2: Cover letter signature and contact details
You are requested to kindly take the same on your records. Thanking you. Yours Sincerely, For ICICI Lombard General Insurance Company Limited Vikas Digitally signed by Vikas Mehra Mehra 18:23:04 +05'30' Date: 2026.01.13 Vikas Mehra Company Secretary Encl. as above ICICI Lombard General Insurance Com
Slide 3: Performance for the quarter and nine months ended December 31, 2025
January 13, 2026 PERFORMANCE FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2025 • Gross Direct Premium Income (GDPI) of the Company on a 1/n basis was at ₹ 213.72 billion in 9M FY2026 compared to ₹ 206.23 billion in 9M FY2025, a growth of 3.6%, as against the industry growth of 8.7%. Excluding
Slide 4: PBT and PAT performance
• Profit before tax (PBT) grew by 10.8% to ₹ 29.41 billion in 9M FY2026 compared to ₹ 26.53 billion in 9M FY2025. o PBT de-grew by 9.4% to ₹ 8.70 billion in Q3 FY2026 compared to ₹ 9.60 billion in Q3 FY2025. Capital gains was at ₹ 9.33 billion in 9M FY2026 compared to ₹ 7.96 billion in 9M FY2025. Ca
Slide 5: Solvency ratio and operating performance
• Solvency ratio was at 2.69x as at December 31, 2025 as against 2.73x as at September 30, 2025 which was higher than the minimum regulatory requirement of 1.50x. Solvency ratio was at 2.69x as at March 31, 2025. Operating Performance on a 1/n basis: (₹ billion) Financial Q3 Q3 Growth 9M 9M Growth F
Slide 6: 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 7: Press and investor contacts; disclaimer
For further press queries, please get in touch with Ms. Rima Mane +91 99877 87103 or send an email to rima.mane@icicilombard.com / corporate.communication@icicilombard.com. For investor queries please get in touch with Ms. Poornima Subramanian + 91 22 6196 2000 or send an email to ir@icicilombard.co
Slide 8: 9M2026 Performance Review
9M2026 Performance Review
Slide 9: 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
Slide 10: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 11: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 12: Our Strategic Pillars
Our Strategic Pillars Maintain market leadership and deliver steady ROE across multiple time periods 2. Comprehensive 1. Profitable Growth Product Portfolio & Ensuring sustainable and Diversified Distribution profitable growth while Product innovation ; maintaining our leadership Driving multiple ch
Slide 13: A balanced product mix supported by a comprehensive product portfolio
A balanced product mix supported by a Comprehensive Product portfolio* 11% 11% 11% 11% Others 4% 5% 3% 7% 3% 3% 3% 3% Crop 14% 12% 14% 12% Marine 29% 29% 28% 30% Fire Health, Travel & PA 20% 20% 19% 19% Motor TP Motor OD 19% 20% 20% 20% FY2024 FY2025 9M2025 9M2026 6 *Basis GDPI figures
Slide 14: Comprehensive Product Portfolio: Motor
Comprehensive Product Portfolio: Motor ₹ billion Motor GDPI and Mix Type Q32025 Q32026 Growth 9M2025 9M2026 Growth Q32025 Q32026 9M2025 9M2026 Private Car 16.46 17.81 8.2% 42.14 44.75 6.2% 52.9% 52.4% 52.9% 53.6% Two-wheeler 8.29 8.81 6.2% 20.56 21.58 4.9% 26.7% 25.9% 25.8% 25.8% Commercial Vehicle
Slide 15: Comprehensive Product Portfolio: Health
Comprehensive Product Portfolio: Health* ₹ billion Health, Travel & PA GDPI and Mix Type Q32025 Q32026 Growth 9M2025 9M2026 Growth Q32025 Q32026 9M2025 9M2026 Individual 3.54 6.75 90.7% 11.27 16.78 49.0% 24.4% 33.0% 19.5% 25.9% Group - Others 3.26 3.59 10.4% 13.91 10.57 -24.1% 22.4% 17.6% 24.0% 16.3
Slide 16: Comprehensive Product Portfolio: P & C
Comprehensive Product Portfolio: P & C ₹ billion Property & Casualty (P&C) GDPI and Mix Type Q32025 Q32026 Growth 9M2025 9M2026 Growth Q32025 Q32026 9M2025 9M2026 Fire 5.43 6.44 18.8% 24.27 28.17 16.1% 49.0% 51.9% 55.9% 58.7% Engineering 2.52 2.91 15.2% 7.78 8.82 13.3% 22.8% 23.4% 17.9% 18.4% Marine
Slide 17: Focus on diversified Portfolio and Distribution
Focus on diversified Portfolio and Distribution Channel Mix 4% 3% 4% 3% 14% 15% 14% 16% Branches 12% 12% 11% 338 14% Brokers 18% 19% 16% 792 19% Individual Agents^ 150,458 Corporate Agents 54% 324 49% 52% 51% Employees 14,937 FY2024 FY2025 9M2025 9M2026 Brokers Direct Corporate Agents Individual Age
Slide 18: Risk Management
Risk Management Value Added Reinsurance Reserving Investments Underwriting Services • Risk Committee* • Proactive risk • Spread of risk through • Conservative • High proportion of Debt top quality and portfolio in sovereign or framework for risks management for reserving philosophy diversified reins
Slide 19: Technology has helped us optimise processes and better serve our customers
Technology has helped us optimise processes and better serve our customers Customer sourcing Claims payment Call centre Renewals • 99.6% policies issued • 96.8% of Motor Own • Differentiated service • Focused renewal execution electronically in 9M2026 Damage and 99.6% of desks have been created usin
Slide 20: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 21: Key Highlights
Key Highlights ₹ billion Particulars FY2024 FY2025 9M2025 9M2026 Financials Gross Written Premium 255.94 282.58 213.54 225.44 Gross Direct Premium Income (GDPI) 247.76 268.33 206.23 213.72 GDPI Growth 17.8% 8.3% 10.3% 3.6% Combined Ratio (CoR) 103.3% 102.8% 102.9% 104.2% Profit after Tax 19.19 25.08
Slide 22: Financial Performance
Financial Performance ₹ billion Combined ratio (CoR) (%)* Return on average Equity (ROAE) (%) 104.5% 104.2% 103.3% 102.8% 102.7% 102.9% 21.5% 20.8% 19.1% 19.5% 17.2% 16.5% FY2024 FY2025 Q32025 Q32026 9M2025 9M2026 FY2024 FY2025 Q32025 Q32026 9M2025 9M2026 Profit before Tax (PBT) Growth Profit after
Slide 23: Financial Performance
Financial Performance Particulars On n basis On 1/n basis On n basis On 1/n basis (₹ in billions) Q32026 Q32026 9M2026 9M2026 GDPI 73.47 70.41 223.58 213.72 GDPI Growth 12.6% 13.3% 6.8% 3.6% PAT 6.80 6.59 22.22 22.25 PAT Growth 0.2% -9.1% 13.8% 11.3% PAT Growth (excl. Wage Code impact) 6.3% -3.3% 15
Slide 24: Robust Investment Performance
Robust Investment Performance ₹ billion Realised Return (%) Investment Book Investment Leverage2 4.09x 3.74x 3.76x 3.60x 7.98% 8.42% 1 1 582.96 6.69% 6.74% 535.08 515.97 489.07 1 1 2.15% 2.09% FY2024 FY2025 Q32025 Q32026 9M2025 9M2026 FY2024 FY2025 9M2025 9M2026 Investment portfolio mix3 for 9M202
Slide 25: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 26: ESG Disclosures
ESG Highlights MSCI ESG Rating MSCI ESG Rating upgraded to Implementing business practices that encourage minimizing paper “AAA” from “A” AAA usage, responsible management and disposal of waste E Sustained investments in Green Bonds A Value-added risk management solutions that enable customers
Slide 27: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 28: General Insurance Industry – Steady growth through various phases of evolution
General Insurance Industry – Steady growth through various phases of evolution GDPI (₹ billion) 8.3% 3.6% FY2001 to FY2008 ICICI Lombard Tariff era CAGR/Growth 73.3% Industry growth CAGR - 16.6% 6.2% 8.7% ICICI Lombard growth CAGR - 73.3% (incorporated in FY2001, grew on a small 3,076.59 base) Indus
Slide 29: Non-Life Insurance Market: Large TAM in India
Non - Life Insurance Market: Large TAM* in India Non-life premium in USD billion 2,715.51 Significantly underpenetrated 9.4 Premium as a % of GDP (CY24) 98.03 5.3 India: US$ EA^: US$ World: US$ 150.43 9.66 80.94 348.06 40.97 36.32 13.98 8.52 36.32 billion 417.37 billion 4,601.69 billion 2.6 2.4 2.0
Slide 30: Thank You
Qrcic1Giombard Thank You
Slide 31: Annexure
@icier€.ombard Annexure
Slide 32: Loss Ratio
Loss Ratio Particulars FY2024 FY2025 Q32025 Q32026 9M2025 9M2026 Motor OD 63.5% 65.2% 62.0% 70.2% 64.1% 69.1% Motor TP 66.8% 63.2% 51.3% 61.0% 60.1% 63.4% Health,Travel & PA 78.9% 82.2% 81.3% 74.7% 82.5% 77.5% Crop 88.4% 89.2% 68.1% 87.4% 91.1% 108.4% Fire 62.2% 46.8% 40.2% 37.8% 50.1% 55.6% Marine
Slide 33: Impact of catastrophic events: Historical snapshot
Impact of catastrophic events: Historical snapshot ₹ billion Economic Insured IL’s Share of IL’s Market IL’s P&C Catastrophic Event Year Losses* losses* Insured losses share# Market share# Andhra Pradesh & Telangana floods 2024 - 5.00 4.98% 8.7% 10.6% North India floods 2024 - 4.00 6.33% 8.7% 10.6%
Slide 34: Reserving Triangle Disclosure: Total
1 Reserving Triangle Disclosure: Total ₹ billion Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2025 Prior* AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 End of First Year 226.65 49.39 59.24 62.46 77.00 87.33 83.76 101.17 114.84 130.33 152.39 One year later
Slide 35: Reserving Triangle Disclosure: IMTPIP
Reserving Triangle Disclosure: IMTPIP ₹ billion Incurred Losses and Allocated Expenses (Ultimates movement) As at March 31, 2025 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, 2025 Prior* AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 End of First Year 41.81 15.97 17.05 19.98 24.41 31.55 25.15 28.07 35.39 38.07 40.80 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, 2025 Prior* AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 End of First Year 184.84 33.42 42.19 42.48 52.58 55.78 58.61 73.11 79.46 92.26 111.59 One
Slide 38: Customer Initiatives
Customer Initiatives Call Centre Claims NPS Health NPS at the Call Centre Cashless & Non-cashless 58 65 79 83 78 77 71 77 71 71 75 75 76 In 9M2025 In 9M2026 65 67 70 69 72 65 68 63 60 57 63 Growth in digital servicing adoption: Digital Servicing (FY2022 >> FY2025) Adoption: 48.2% in 9M2026 Q4-23 Q1-
Slide 39: Abbreviations & Glossary
Abbreviations & Glossary: AI - Artificial Intelligence J&K – Jammu & Kashmir AT1 - Additional Tier-1 LODR - Listing Obligations and Disclosure Requirements App - Application Motor TP – Motor Third Party AY – Accident Year Mn – Million AUM - Assets Under Management MS – Market Share Bn - billion MSCI
ICICI Lombard General Insurance Company — 9M FY2026 Earnings Presentation on 6ix