ICICI Lombard General Insurance posted a 78.9% year‑on‑year rise in underwriting loss to ₹318.38 crore for Q2 FY27, pushing its combined ratio to 107% from 105.1% a year earlier. Shares edged up 1.25%, or ₹21.20, to ₹1,713 on the NSE ahead of the earnings release.
Net earned premium climbed 17.7% YoY to ₹6,651.87 crore from ₹5,652 crore, while total income rose 19.2% to ₹7,843.72 crore against ₹6,583 crore last year.
Gross direct premium income (GDPI) grew 3% YoY to ₹6,792 crore, slightly below the industry’s 7% uptick. Excluding crop and mass health, GDPI surged 13.9%, outpacing the sector’s 13.2% growth.
Motor insurance growth hit 13% in H1 FY27, matching the 13.1% industry pace, while new vehicle sales jumped 38.5% versus 26.9% industry. The company retains a 10.3% market share in motor insurance. Health, travel and personal accident premiums rose 26.8% in Q2, eclipsing the 18.9% sector average, with retail health up 64% and holding a 5% share.
Investment income climbed to ₹1,554 crore from ₹1,249 crore, with capital gains up 81% to ₹453 crore. The board approved a ₹7 per equity share interim dividend, equating to 70% of the ₹10 face value, with a record date of 23 Oct 2026 and payment scheduled before 12 Nov 2026.
Looking ahead, the company will disclose Q3 FY27 results on 15 November, and analysts are watching whether the rising loss trend will press the combined ratio further. Investors will also gauge the board’s next dividend decision.