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ICICI Lombard General Insurance
SectorInsurance
ICICI Lombard General Insurance Company Limited is the largest private-sector non-life insurer in India based on Gross Direct Premium Income. The company offers a diverse range of insurance products including motor, health, travel, personal accident, crop, fire, marine, engineering, and liability insurance. These products are distributed through multiple channels such as direct sales, individual agents, bank partners, corporate agents, brokers, and online platforms. The company serves individual, corporate, and government customers. Incorporated in 2000, ICICI Lombard became publicly listed in 2017, making it the first pure-play general insurance company to list on Indian stock exchanges. As of 2023, the company operates through a network of 305 branches and 917 virtual offices, having issued 32.7 million policies and settled over 3.6 million claims. Its Gross Direct Premium income for 2023 was Rs. 210.25 billion, representing a market share of 8.2% among all non-life insurers and 15.9% among private-sector non-life insurers in India.
In the news
ICICI Lombard Q2 profit up 15.5% to ₹946.40 crore, ICICI Securities raises target to ₹2000
Consumer Court Orders ICICI Lombard to Pay ₹50 Lakh Claim
Jefferies' Top 5 Buy Picks: Defence, Insurance, Energy, and IT Bets with 33-43% Upside
ICICI Lombard targets 18-35 age group with digital health cover
IRDAI fines ICICI Lombard ₹1 crore for outsourcing lapses
ICICI Lombard Shows Strong Retail-Health Growth Despite Claims Pressure
Exhicon partners ICICI Lombard for exhibition insurance
The Quarter story
The two most recent quarterly results, compared side-by-side.
Q2 FY27 profit rebounds, but underwriting still runs at a loss.
Advance premium rises from ₹41.26 Cr in Q3 FY26 to ₹47.33 Cr in Q2 FY27 — larger pipeline supports future premium
Combined ratio stays above break-even at 107.0% in Q2 FY27, up from 101.2% in Q4 FY26 — underwriting losses persist
Profit after tax rebounds from ₹4.03 Cr in Q1 FY27 to ₹9.46 Cr in Q2 FY27 — investment gains lift earnings
Health, Travel & Personal Accident loss ratio rises from 77.3% in Q2 FY26 to 85.3% in Q2 FY27 — claims pressure builds
Solvency ratio strengthens from 2.67x in Q4 FY26 to 2.75x in Q2 FY27 — balance-sheet cushion improves
Catastrophe losses rise from ₹0.11 Cr in Q3 FY26 to ₹1.18 Cr in Q2 FY27 — weather events add claims cost
Marine Cargo loss ratio improves from 102.1% in Q2 FY26 to 75.9% in Q2 FY27 — underwriting turns profitable
Motor own-damage loss ratio rises from 67.6% in Q1 FY27 to 72.2% in Q2 FY27 — accident claims pressure motor
Company insights, generated from the most recent coverage.
With co-pay fixed industry-wide, ICICI Lombard's claims-speed edge (3.3-day settlement, 98.8% of retail health claims paid within 30 days) becomes a more decisive moat, since price and product terms are no longer levers.
Claims settlement turnaround cut to 3.3 days from 6.0, with 98.8% of retail health claims paid within 30 days versus an 82.1% industry average — claims speed, not price, is the retention lever.
Motor NPS of 70.27 ranks #1 among general insurers, well ahead of New India (65.31) and Bajaj Allianz (64.94); health NPS of 58.77 lags Apollo Munich (76.71) — service advantage is motor-specific, not brand-wide.