ICICI Lombard General Insurance's Q2 net profit up 18% at ₹819 crore

The combined ratio of ICICI Lombard stood at 105.1 per cent in Q2FY26 as against 104.5 per cent in Q2FY25

Aathira Varier Mumbai

2 min read Last Updated : Oct 14 2025 | 8:56 PM IST

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ICICI Lombard General Insurance on Tuesday reported an 18 per cent year-on-year (Y-o-Y) jump in net profit in the July–September quarter of FY26 (Q2FY26) to ₹819.54 crore from ₹693.95 crore in Q2FY25, aided by healthy growth in total income.

While total income grew 12.5 per cent Y-o-Y to ₹6,582.7 crore, the gross direct premium income (GDPI) of the insurer was down 1.9 per cent Y-o-Y to ₹6,596 crore in Q2FY26 from ₹6,721 crore in Q2FY25. According to the company, excluding crop and mass health, GDPI was up 3.5 per cent.

“While our growth in the first five months of the financial year stood at 1.3 per cent, the month of September 2025 witnessed a sharp uptick due to festive demand and moderation of vehicle prices attributable to the GST rate cut, taking our motor insurance growth to 6.5 per cent. In an increasingly competitive market environment witnessed over the recent quarters, we expect to maintain the growth momentum that kicked off in September while remaining focused on our journey of profitable growth, underpinned by continuous distribution expansion and granular portfolio segmentation,” Sanjeev Mantri, managing director and chief executive officer (MD & CEO), ICICI Lombard General Insurance, said in a post-earnings analyst call.

“For the month of September 2025, the company has crossed 4 per cent market share in retail health. This performance has been driven by ongoing product innovation and sustained investment in strengthening our retail health distribution capabilities. This segment is expected to see an upward trajectory due to the GST reforms,” Mantri added.

The combined ratio of ICICI Lombard stood at 105.1 per cent in Q2FY26 as against 104.5 per cent in Q2FY25. The claims ratio of the general insurer also increased to 72.1 per cent from 71.4 per cent in the same period last year.

The solvency ratio of the general insurer stood at 273 per cent, as against the regulatory mandate of 150 per cent in the reported quarter. It was 265 per cent in Q2FY25.