Icici Bank Limited · NSE:ICICIBANK
Icici Bank — ICICI Lombard General Insurance Company — FY2026 Earnings Presentation
40 slides from Icici Bank's earnings presentation, Apr 15, 2026
Slide 1: Letter to stock exchanges on results and investor presentation
April 15, 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 – 400 051 Scrip code: Equity (BSE: 5
Slide 2: Letter to stock exchanges (continued)
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 Date: 2026.04.15 19:31:29 +05'30' Vikas Mehra Company Secretary Encl. As above ICICI Lombard General Insurance Com
Slide 3: Performance for the quarter and year ended March 31, 2026
April 15, 2026 PERFORMANCE FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026 Combined Ratio for Q4 FY2026 was 101.2% as against 102.5% in Q4 FY2025 driven by growth in Gross Direct Premium Income (GDPI) of 18.2% in Q4 FY2026 vs Industry growth of 10.9% • Gross Direct Premium Income (GDPI) of the Company
Slide 4: PAT growth, dividend and ROAE
• Consequently, Profit after tax (PAT) on a 1/n basis grew by 10.5% to ₹ 27.72 billion in FY2026 compared to ₹ 25.08 billion in FY2025. PAT on an n basis grew by 14.1% to ₹ 27.61 billion in FY2026 compared to ₹ 24.19 billion in FY2025. o PAT on a 1/n basis grew by 7.3% to ₹ 5.47 billion in Q4 FY2026
Slide 5: Operating Performance on a 1/n basis
Operating Performance on a 1/n basis: (₹ billion) Financial Q4 FY2025 Q4 FY2026 Growth% FY2025 FY2026 Growth% Indicators GDPI 62.11 73.40 18.2% 268.33 287.12 7.0% PBT 6.68 7.18 7.5% 33.21 36.59 10.2% PAT 5.10 5.47 7.3% 25.08 27.72 10.5% Ratios on a 1/n basis: Financial Indicators Q4 FY2025 Q4 FY2026
Slide 6: 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 7: 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 forwar
Slide 8: FY2026 Performance Review
FY2026 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% Others 4% 5% 2% 3% 3% 3% 12% Crop 14% 12% Marine 29% 32% 29% Fire Health, Travel & PA 20% 20% 20% Motor TP Motor OD 19% 20% 20% FY2024 FY2025 FY2026 6 *Basis GDPI figures
Slide 14: Comprehensive Product Portfolio: Motor
Comprehensive Product Portfolio: Motor ₹ billion Motor GDPI Motor Mix Type Q42025 Q42026 Growth FY2025 FY2026 Growth Q42025 Q42026 FY2025 FY2026 Private Car 15.19 16.21 6.7% 57.33 60.96 6.3% 54.6% 50.7% 53.4% 52.8% Two-wheeler 6.75 7.75 14.7% 27.32 29.32 7.3% 24.3% 24.2% 25.4% 25.4% Commercial Vehic
Slide 15: Comprehensive Product Portfolio: Health
Comprehensive Product Portfolio: Health ₹ billion Health, Travel & PA GDPI Health, Travel & PA Mix Type Q42025Q42026 Growth FY2025 FY2026 Growth Q42025 Q42026 FY2025 FY2026 Individual 5.15 8.50 65.0% 16.42 25.28 54.0% 27.3% 32.6% 21.4% 27.9% Group - Others 3.80 3.36 -11.6% 17.72 13.93 -21.4% 20.2% 1
Slide 16: Comprehensive Product Portfolio: P & C
Comprehensive Product Portfolio: P & C ₹ billion Property & Casualty (P&C) GDPI Property & Casualty (P&C) Mix Type Q42025 Q42026 Growth FY2025 FY2026 Growth Q42025 Q42026 FY2025 FY2026 Fire 7.40 5.90 -20.3% 31.67 34.07 7.6% 48.3% 38.4% 45.3% 46.2% Engineering 2.30 2.97 29.1% 10.08 11.79 16.9% 15.0%
Slide 17: Comprehensive Product Portfolio: Crop
Comprehensive Product Portfolio: Crop ₹ billion 88.4% 89.2% 95.2% Crop 11.75 14.25 7.14 FY2024 FY2025 FY2026 Loss Ratio • Won 3 clusters in Maharashtra for FY2026 • Continue to service 1 cluster each in Andhra Pradesh, Jharkhand, Assam & Puducherry which was won in FY2025 • De-growth is resulting fr
Slide 18: Focus on diversified Portfolio and Distribution
Focus on diversified Portfolio and Distribution Channel Mix 4% 3% 3% 14% 15% 16% Branches 14% 12% 12% 341 18% 15% Brokers 19% 800 Individual Agents^ 157,101 Corporate Agents 52% 54% 49% 326 Employees 15,008 FY2024 FY2025 FY2026 Brokers Direct Corporate Agents Individual Agents Others Others includes
Slide 19: 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 20: 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 FY2026 Damage* and 98.8% of desks have been created usi
Slide 21: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 22: Key Highlights
Key Highlights ₹ billion Particulars FY2024 FY2025 FY2026 Financials Gross Written Premium 255.94 282.58 306.18 Gross Direct Premium Income (GDPI) 247.76 268.33 287.12 GDPI Growth 17.8% 8.3% 7.0% Combined Ratio (CoR) 103.3% 102.8% 103.4% Profit after Tax 19.19 25.08 27.72 Ratios ** Return on Average
Slide 23: Financial Performance
Financial Performance Particulars On n basis On 1/n basis On n basis On 1/n basis (₹ in billions) Q42026 Q42026 FY2026 FY2026 GDPI 78.43 73.40 303.33 287.12 GDPI Growth 19.6% 18.2% 10.3% 7.0% PAT 5.39 5.47 27.61 27.72 PAT Growth 15.6% 7.3% 14.1% 10.5% Return on Average Equity (RoAE) 13.1% 13.3% 17.9
Slide 24: Financial Performance
Financial Performance ₹ billion Combined ratio (CoR) (%) Return on average Equity (ROAE) (%) 102.8% 103.4% 102.5% 101.2% 19.1% 17.8%* 14.5% 13.3% FY2025 FY2026 Q42025 Q42026 FY2025 FY2026 Q42025 Q42026 Profit before Tax (PBT) Growth Profit after Tax (PAT) Growth 10.2% 10.5% 7.3% 7.5% 27.72 36.59 25.
Slide 25: Robust Investment Performance
Robust Investment Performance ₹ billion 1 Realised Return (%) Investment Book Investment Leverage 3.74x 3.48x 8.42% 8.47% 584.21 535.08 FY2025 FY2026 FY2025 FY2026 Investment portfolio mix2 for FY2026 : Corporate bonds 40.8%, G-Sec 35.0% and Equity (including equity ETF) 18.7% Unrealised loss of
Slide 26: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 27: Driving Impact: ESG Measures
Driving Impact: ESG Measures Environmental Social - Building an Strong Governance Management Inclusive Future Operating Practices Fostering Inclusivity through Sustainable Board Oversight Products • CSR & Sustainability Committee oversees • Accelerating the use of renewable power • Community initiat
Slide 28: Agenda
Agenda • Company Strategy • Financial Performance • ESG Initiatives • Industry Overview
Slide 29: General Insurance Industry – Steady growth through various phases of evolution
General Insurance Industry – Steady growth through various phases of evolution FY2001 to FY2008 GDPI (₹ billion) 13.1% 7.0% Tariff era Industry growth CAGR - 16.6% ICICI Lombard ICICI Lombard growth CAGR - 73.3% 73.3% (incorporated in FY2001, grew on a small CAGR/Growth 14.8% 9.2% base) FY2008 to FY
Slide 30: 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 31: Thank You
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Slide 32: Annexure
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Slide 33: Loss Ratio
Loss Ratio Particulars Q42025 Q42026 FY2025 FY2026 Motor 70.2% 66.3% 64.2% 66.3% Motor OD 68.4% 67.5% 65.2% 68.7% Motor TP 72.0% 65.0% 63.2% 63.8% Health,Travel & PA 81.5% 80.8% 82.2% 78.4% Crop 65.1% -214.6% 89.2% 95.2% Fire 36.9% 44.1% 46.8% 52.6% Marine 53.4% 86.5% 79.8% 90.9% Engineering 19.6% 7
Slide 34: 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 35: Reserving Triangle Disclosure: Total
1 Reserving Triangle Disclosure: Total ₹ billion Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2026 Prior* AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 AY 26 End of First Year 276.28 59.24 62.46 77.00 87.33 83.76 101.17 114.84 130.33 152.39 170.49 One year later
Slide 36: Reserving Triangle Disclosure: IMTPIP
Reserving Triangle Disclosure: IMTPIP Incurred Losses and Allocated Expenses (Ultimates movement) As at March 31, 2026 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 ₹ billion Two years later 4.49 3.85 3.54 Three years later 5.81 4.49 5.52 3.61 AY: Accident Year
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, 2026 Prior* AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 AY 26 End of First Year 58.55 17.05 19.98 24.41 31.55 25.15 28.07 35.39 38.07 40.80 42.45 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, 2026 Prior* AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 AY 23 AY 24 AY 25 AY 26 End of First Year 217.72 42.19 42.48 52.58 55.78 58.61 73.11 79.46 92.26 111.59 128.04 On
Slide 39: Customer Initiatives
Customer Initiatives Call Centre Claims NPS Health NPS at the Call Centre Cashless & Non-cashless 60 74 79 77 83 77 78 84 In Q1 FY2026 In Q4FY2026 71 71 71 75 75 76 65 67 63 70 69 72 60 65 68 63 71 57 Growth in digital servicing adoption: 69% (FY2022 >> FY2026) Of the total service engagements Q4-23
Slide 40: 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 — FY2026 Earnings Presentation on 6ix