ICICI Lombard Approves FY26 Audited Results, Recommends ₹7 Dividend, Appoints New Auditor & Director
ICICI Lombard approved FY26 audited results and recommended a final dividend of ₹7 per share. M/s. B S R & Co. LLP was appointed as Joint Statutory Auditor for four years. Mr. Shyam Srinivasan was appointed as Non-executive, Independent Director for five years. Up to 1.7 million stock options and 1.05 million stock units were approved.
The approval of audited financial results, dividend recommendation, appointment of a key independent director with a substantial term, and the significant grant of stock options are material events that can influence investor perception and the company's strategic direction.
The announcement details positive corporate actions including the approval of audited financial results, recommendation of a final dividend, appointment of a new independent director, and approval of stock options, all of which are generally viewed favorably by the market.
ICICI Lombard General Insurance Company Limited announced the outcome of its Board Meeting held on April 15, 2026. The Board approved the Audited Financial Statements for the financial year ended March 31, 2026, and the Audited Financial Results for the quarter and financial year ended March 31, 2026. The company's joint statutory auditors, PKF Sridhar & Santhanam LLP and Walker Chandiok & Co. LLP, issued an audit report with an unmodified opinion.
The Board recommended a final dividend of ₹7 per equity share (70% of face value of ₹10) for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Furthermore, the Board approved the appointment of M/s. B S R & Co. LLP as one of the Joint Statutory Auditors for a term of four consecutive years, commencing from the conclusion of the Twenty-Sixth AGM until the conclusion of the Thirtieth AGM, pending member approval. PKF Sridhar & Santhanam LLP will complete its second term at the conclusion of the ensuing AGM.
In a significant move, Mr. Shyam Srinivasan was appointed as an Additional Director in the category of 'Non-executive, Independent Director' for a term of five consecutive years, effective from April 15, 2026, to April 14, 2031, subject to member approval. Mr. Srinivasan has a distinguished career spanning over three decades in the banking and financial services industry.
The Board also approved the grant of up to 1.7 million stock options under the ICICI Lombard-Employees Stock Options Scheme-2005 and up to 1.05 million stock units under the ICICI Lombard-Employees Stock Unit Scheme-2023. The grant of stock options to the Whole-time Director is subject to approval from the members and IRDAI.
The financial results for the quarter and year ended March 31, 2026, show gross premiums of ₹8,07,370 lakh for the quarter and ₹30,61,809 lakh for the year. Net premium written stood at ₹6,48,744 lakh for the quarter and ₹23,37,448 lakh for the year. The company reported an operating profit of ₹54,565 lakh for the quarter and ₹2,52,373 lakh for the year. Earnings per share (basic and diluted) for the year were ₹55.74 and ₹55.24, respectively. The company also noted an incremental liability of ₹5,509 lakh due to the reassessment of employee benefit obligations under the New Labour Codes.
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