ICICI Lombard stock: Q2 profit climbs on investment income

Published on 11/01/2026 at 00:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ICICI Lombard stock enters focus after a sharp quarterly profit increase supported by investment income. Premium growth lagged the industry.

Profit and underwriting signals

Second-quarter profit rose on stronger investment income and capital gains.
Premium growth trailed the industry, while the combined ratio worsened year on year.
Capitalisation remained strong, with the solvency ratio well above the regulatory minimum.

ICICI Lombard, INE765G01017, Illustration mit AI erstellt.

ICICI Lombard General Insurance reported a 27.5 percent year-on-year increase in profit after tax to 1,031 crore rupees for the quarter ended September 30, 2026. Moneycontrol reported the result on October 14, citing higher investment income and capital gains as key contributors.

Investment income lifts earnings

Investment income rose to 1,554 crore rupees from 1,249 crore rupees a year earlier. Capital gains more than doubled to 453 crore rupees from 236 crore rupees, helping offset slower premium expansion. The board also approved an interim dividend of 7 rupees per share for the first half of fiscal 2027, compared with 6.50 rupees a year earlier.

The earnings details were reported by Moneycontrol on October 14, 2026.

Premium growth trails industry

Gross direct premium income increased 3 percent year on year to 6,792 crore rupees in the September quarter, below the industry's 7 percent growth. Excluding crop and mass health insurance, premium growth reached 13.9 percent, ahead of the comparable industry growth of 13.2 percent.

The combined ratio, a measure of underwriting profitability, rose to 104.5 percent from 103.9 percent a year earlier. Excluding catastrophe losses, it was 102.7 percent, compared with 102.6 percent in the prior-year quarter. Catastrophe losses increased to 118 crore rupees from 73 crore rupees.

Capital position remains solid

Return on average equity improved to 23.7 percent from 21.3 percent. The solvency ratio stood at 2.74 times on September 30, 2026, up from 2.68 times on June 30 and above the regulatory minimum of 1.50 times.

India's private insurance market

ICICI Lombard is an India-based private-sector general insurer offering motor, health, travel, home and student-travel coverage. The company says policies can be purchased and renewed online, and its registered office is in Mumbai, India. Its investor-relations page describes it as India's largest private-sector general insurance company, placing it among the country's major private general insurers.

Company information is available through ICICI Lombard's investor-relations page.