ICICI Lombard General Insurance Company Limited has submitted to the Exchange, the financial results for the quarter and nine-months ended December 31, 2025.
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ICICI Lombard reported healthy premium growth in Q3 FY26, with gross premiums written rising ~15% year-on-year to ₹7,433 crores and net premiums growing ~17% to ₹5,963 crores. For the nine-month period, gross premiums grew ~5.6% to ₹22,544 crores. However, Q3 profit after tax declined ~9% year-on-year to ₹659 crores (from ₹724 crores), while nine-month PAT grew ~11% to ₹2,225 crores. Q3 EPS stood at ₹13.25 versus ₹14.63 a year ago. Underwriting metrics improved, with the combined ratio falling to 104.5% (from 105.1%) and the incurred claim ratio easing to 68.7% (from 72.1%). The solvency ratio remained healthy at 2.09x. Joint statutory auditors Walker Chandiok & Co LLP and PKF Sridhar & Santhanam LLP issued an unmodified (clean) opinion on the results.
The Q3 bottomline dip is largely explained by a one-time ₹53 crore gratuity charge triggered by the new Labour Codes, rather than weakening core operations. Strong premium growth and improving claim and combined ratios signal solid underlying business momentum, which is positive for shareholders despite the optical earnings decline.