Board approves Q1 FY27 results, extends CIO tenure, sets aside reserves for SC judgment
ICICIGI · price
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ICICI Lombard's board approved Q1 FY27 (quarter ended June 30, 2026) audited results. Net premium written grew 17.7% YoY to about Rs 6,604 crore. Profit after tax fell about 46% YoY to Rs 403 crore, partly due to a Rs 185 crore reserve set aside for a Supreme Court ruling on homemaker compensation in motor third-party claims. Combined ratio improved to 102.4% from 105.8%. Interim dividend declared at Rs 6.50 per share. Joint auditors gave an unmodified opinion. CIO Vinod Mahajan's tenure extended to April 2029.
PAT dropped sharply due to one-time motor TP reserve. Combined ratio improved. Watch outcome of GI Council review petition on the SC judgment.