ICICI Lombard reports strong H1 FY2026 PAT growth, declares interim dividend, optimistic on GST reforms
ICICI Lombard reported H1 FY2026 PAT growth of 22.9% to ₹15.67 billion, declared an interim dividend of ₹6.50 per share, and sees positive momentum from recent GST reforms, especially in retail health.
This announcement includes the company's half-yearly and quarterly financial results, a dividend declaration, and detailed commentary on strategic initiatives and the positive impact of significant regulatory changes (GST reforms) on the business, making it highly material for investors.
The company reported significant growth in PAT and PBT, an increase in interim dividend, and improved ROAE and solvency. Despite some GDPI de-growth, strong performance in the retail health segment and positive outlook from GST reforms contribute to a positive sentiment.
ICICI Lombard General Insurance Company Limited has released the transcript of its earnings conference call for the quarter and half-year ended September 30, 2025. Key highlights from the financial performance and management commentary include: * The company reported a Profit After Tax (PAT) growth of 22.9% to ₹15.67 billion for H1 FY2026, compared to ₹12.74 billion in H1 FY2025. Profit Before Tax (PBT) grew by 22.3% to ₹20.71 billion. * For Q2 FY2026, PAT grew by 18.1% to ₹8.20 billion, and PBT grew by 17.2% to ₹10.77 billion. * Gross Written Premium (GWP) increased by 1.6% to ₹151.11 billion in H1 FY2026. Gross Direct Premium Income (GDPI) saw a de-growth of 0.5% to ₹143.31 billion, against an industry growth of 7.3%. Excluding Crop and Mass Health segments, the company's GDPI grew by 3.5% (industry 10.5%). * The Combined Ratio (CoR) for H1 FY2026 was 104.0%, deteriorating from 103.2% in H1 FY2025, partly due to CAT events. Excluding CAT losses, CoR was 103.3%. The company's Q1 FY2026 CoR of 102.9% was 12 percentage points better than the industry average. * Investment income rose to ₹25.38 billion in H1 FY2026 from ₹22.52 billion in H1 FY2025. * The Solvency ratio remained strong at 2.73x as of September 30, 2025, well above the regulatory requirement of 1.50x. * Return on Average Equity (ROAE) for H1 FY2026 improved to 20.8% from 20.3% in H1 FY2025. * The Board of Directors declared an interim dividend of ₹6.50 per share for H1 FY2026, an increase from ₹5.50 per share for H1 FY2025. * Segment-wise, Retail Health business demonstrated strong growth of 25.2% for H1 FY2026, significantly outpacing industry growth of 9.3%. The company's market share in retail health improved to 3.7% and crossed 4% in September 2025. * The company noted positive impacts from recent GST reforms, including exemption from individual health insurance premiums and rationalization of rates in the automobile sector, which are expected to boost the non-life insurance sector. Management is optimistic about increased volumes and sustained growth in the second half of the year. * Strategic initiatives include enhancing on-ground claims support (IL Sahayak reached over 58,000 customers), launching Differentiated Service Desks (handled over 96,000 calls), and the 'IL TakeCare' app surpassing 18.4 million downloads, generating ₹2,088.2 million in gross written premium in H1 FY2026. * The company maintains high claim settlement ratios (99.6% for retail health within 30 days, 96.4% for Motor OD within 30 days) and strong Net Promoter Scores (72 for Health claims, 66 for Motor claims) in Q1 FY2026.
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ICICI Lombard General Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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