ICICI Lombard Q2 profit rises 18% YoY, driven by capital gains, low losses

It has seen a more limited impact of input tax credit (ITC) losses and there are tailwinds from higher new vehicle sales and goods and services tax (GST) exemption for healthcare

ICICI Lombard (ICICIGI) reported 12 per cent year-on-year (Y-o-Y) net earned premium (NEP) growth in Q2FY26. Net profit jumped 18 per cent Y-o-Y, driven by improved loss ratio and realisation of capital gains (₹2,360 crore) on the investment book.

But ICICI Lombard lost market share across several segments and lags industry growth for H1, despite a pick up in September.

The company continues to dominate in motor and commercial lines, and is building capability in retail health. It remains a leader in terms of profitability. 

It has seen a more limited impact of input tax credit (ITC) losses and there are tailwinds