Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — Q1 FY2025 Earnings Presentation
36 slides from Icici Lombard General Insurance's earnings presentation, Jul 19, 2024
Slide 1: Cover letter to stock exchanges
Ref. No.: MUM/SEC/102-07/2025 July 19, 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 – 400 0
Slide 2: Performance for the Quarter Ended June 30, 2024
July 19, 2024 PERFORMANCE FOR THE QUARTER ENDED JUNE 30, 2024 Gross Direct Premium Income (GDPI) of the Company stood at ₹ 76.88 billion in Q1 FY2025 compared to ₹ 63.87 billion in Q1 FY2024, a growth of 20.4%, which was higher than the industry growth of 13.3%. Excluding crop and mass health, GDP
Slide 3: Operating Performance Review
Operating Performance Review (₹ billion) Financial Indicators Q1 FY2024 Q1 FY2025 Growth % FY2024 GDPI 63.87 76.88 20.4% 247.76 PBT 5.20 7.74 48.8% 25.55 PAT 3.90 5.80 48.7% 19.19 Ratios Financial Indicators Q1 FY2024 Q1 FY2025 FY2024 ROAE (%) – Annualised 14.7% 19.1% 17.2% Combined ratio (%)* 103.8
Slide 4: About ICICI Lombard General Insurance Company Limited
About ICICI Lombard General Insurance Company Limited ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal acciden
Slide 5: Disclaimer
Disclaimer 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 forw
Slide 6: Q1 2025 Performance Review
icici @Lombard | Team Q12025 Performance Review
Slide 7: 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 fo
Slide 8: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 9: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 10: ICICI Lombard General Insurance – Pillars of Strength
ICICI Lombard General Insurance – 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 •
Slide 11: Key Highlights
Key Highlights Particulars FY2023 FY2024 Q12024 Q12025 (₹ billion) Actual Actual Actual Actual Gross Written Premium 217.72 255.94 66.22 79.31 Gross Direct Premium Income (GDPI) 210.25 247.76 63.87 76.88 GDPI Growth 17.0% 17.8% 18.9% 20.4% Combined Ratio (CoR)* 104.5% 103.3% 103.8% 102.3% Profit aft
Slide 12: Comprehensive Product Portfolio
Comprehensive Product Portfolio Product Mix 10% 11% 12% 11% Others 4% 4% 2% 3% 3% 3% 4% 4% Crop 15% 14% 17% 20% Marine 27% 29% Fire 33% 34% Health, Travel & PA 21% 20% Motor TP 15% 15% Motor OD 20% 19% 14% 16% FY2023 FY2024 Q12024 Q12025 Diversified product mix– motor, health, travel & personal ac
Slide 13: Comprehensive Product Portfolio: Motor
Comprehensive Product Portfolio: Motor ₹ billion 72.4% 65.2% 69.8% 66.8% Motor GDPI Mix 23.69 85.82 96.34 18.75 Type Q12024 Q12025 Private car 48.7% 51.5% Motor 41.51 44.31 47.40 48.94 Two Wheeler 30.3% 26.0% 9.20 9.55 12.03 11.66 Commercial Vehicle 21.0% 22.5% FY2023 FY2024 Q12024 Q12025 Loss Ratio
Slide 14: Comprehensive Product Portfolio: Health, Travel & PA
Comprehensive Product Portfolio: Health, Travel & PA ₹ billion Health, Travel & PA GDPI Mix 77.3% 78.9% 78.7% 83.6% Health, Travel & PA Type Q12024 Q12025 Individual 13.9% 12.5% 55.92 71.17 Group – Others 23.9% 20.7% 25.83 Group Employer-Employee 62.1% 66.8% 20.73 Mass 0.1% 0.0% FY2023 FY2024 Q12024
Slide 15: Comprehensive Product Portfolio: P & C
Comprehensive Product Portfolio: P & C ₹ billion Property & Casualty (P&C) Market Share 59.7% 68.6% 79.6% 74.9% Property & Casualty Product Q12024 Q12025 Fire 13.9% 13.9% Engineering 18.6% 18.7% 25.08 59.73 68.51 22.86 Marine Cargo 20.5% 22.6% Liability 17.7% 19.1% FY2023 FY2024 Q12024 Q12025 Loss R
Slide 16: Digital Opportunities
Digital Opportunities Service Excellence Policy Issuance Claims & Servicing ILTakeCare App 8.5 Mn Policies sourced 0.9 Mn Claims honored 10.0 Mn+ ILTakeCare user downloads (9.3 Mn+ 98.9% issued electronically 68 Claims NPS in Q42024 at March 31, 2024) (99.3% in FY2024) (70 in Q32024 ) Automation and
Slide 17: 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 18: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 19: Financial Performance
Financial Performance ₹ billion Combined ratio (CoR) (%) * Return on average Equity (ROAE) (%) 104.5% 19.1% 103.8% 17.7% 17.2% 103.3% 14.7% 102.3% FY2023 FY2024 Q12024 Q12025 FY2023 FY2024 Q12024 Q12025 # Profit before Tax (PBT) Profit after Tax (PAT) Growth Growth 21.0% 48.8% 11.0% 48.7% 25.55 19.1
Slide 20: Robust Investment Performance
Robust Investment Performance ₹ billion Realised Realised ReturnReturn (%) (%) Investment Realised Return (%) Book Investment Leverage 2 4.15x 4.09x 4.16x 4.14x 7.50% 7.98% 489.07 510.04 431.80 449.05 1 1 1.86% 2.21% FY2023 FY2024 Q12024 Q12025 FY2023 FY2024 Q12024 Q12025 Investment portfolio mix3
Slide 21: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 22: 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 transition communication across towa
Slide 23: 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 24: 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-Executive • Zero tolerance approach toward
Slide 25: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 26: Non-life Insurance Market Large Addressable Market
Non - life Insurance Market Large Addressable Market Significantly underpenetrated 9.3 Premium as a % of GDP (CY23) 6.0 India: US$ EA*: US$ World: US$ 2.6 2.3 2.1 35.77 billion 400.11 billion 4,297.18 billion 1.8 1.8 1.0 0.7 0.6 Non-Life Insurance Density 4th largest non-life insurance market in A
Slide 27: Industry has witnessed steady growth
Industry has witnessed steady growth 12.8%# ₹ billion Industry CAGR 17.8%# IL CAGR 51.4% 53.5% Market Share of Private Players** 2,568.94 2,897.38 15.5% 13.3%# 13.1% 20.4%# 16.6% 53.3% 54.7% 73.3%* 727.58 641.98 36.6% 0.1% 294.98 100.87 FY2001 FY2008 FY2023 FY2024 Q12024 Q12025 Tariff era Non-Tariff
Slide 28: Thank you
icici @Lombard | Team Thank you
Slide 29: Annexure
Annexure ( 3 L Team icici @Lombard ‘Nibhaye Vaade
Slide 30: Loss Ratio
Loss Ratio Particulars FY2023 FY2024 Q12024 Q12025 Motor OD 72.6% 63.5% 67.0% 64.3% Motor TP 72.2% 66.8% 72.4% 69.3% Health,Travel & PA 77.3% 78.9% 78.7% 83.6% Crop 80.1% 88.4% 102.1% 109.0% Fire 49.3% 62.2% 85.2% 78.5% Marine 72.4% 73.4% 76.7% 78.4% Engineering 55.1% 63.8% 98.6% 53.3% Other 63.0% 7
Slide 31: Impact of catastrophic events: Historical snapshot
Impact of catastrophic events: Historical snapshot ₹ billion Economic Insured Our Share of Insured Catastrophic Event Year Losses losses* losses Cyclone Michaung 2023 120.00* 25.00 7.58%* North India Floods 2023 150.00* 12.00 8.80%* Cyclone Biparjoy1 2023 60.00-80.00 15.00 5.14%* Cyclone Tauktae* 20
Slide 32: Abbreviations & Glossary
Abbreviations & Glossary: ISO – International Organization for Standardization AI - Artificial Intelligence IMTPIP – Indian Third Party Insurance Pool App- Application InvIT- Infrastructure Investment Trust AY – Accident Year IoT – Internet of Things BAGI – Bharti Axa General Insurance IRDAI – Insur
Slide 33: Reserving Triangle Disclosure: Total
Reserving Triangle Disclosure: Total1 Incurred Losses and Allocated Expenses (Ultimate Movement) ₹ billion 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 34: 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 35: Reserving Triangle Disclosure: Motor-TP (excl. IMTPIP)
Reserving Triangle Disclosure: Motor-TP (excl. IMTPIP) Incurred Losses and Allocated Expenses (Ultimate Movement) ₹ billion 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 36: Reserving Triangle Disclosure: Total (excl. Motor-TP)
Reserving Triangle Disclosure: Total (excl. Motor-TP) Incurred Losses and Allocated Expenses (Ultimate Movement) ₹ billion 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 — Q1 FY2025 Earnings Presentation on 6ix