Analyst Concall
ICICI Lombard's mgmt looks to up mkt share post GST cut
This story was originally published at 20:37 IST on 14 October 2025
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By Shubham Rana and Sagar Sen
NEW DELHI – ICICI Lombard General Insurance Co. Ltd. expects to benefit from the reduction in goods and services tax on health insurance premium and increase its market share, the company's management said Tuesday. The GST Council last month reduced the GST paid on life and health insurance premium by individuals to nil from 18% earlier.
Post the GST cut, ICICI Lombard is optimistic of a scale-up in business, the company's management said in a conference call with analysts after the release of September quarter financial results.
The insurance company's net profit for the September quarter rose 18% on year to INR 8.20 billion. Sequentially, the net profit increased by nearly 10%. Analysts had estimated ICICI Lombard's net profit at INR 7.41 billion.
"We are very well poised to capitalise this opportunity of growth across streams of businesses," the management said. "Possibly, the market share loss one had seen over the last few quarters, one definitely expects that trend line to start getting reversed. We should start getting incremental market share..."
ICICI Lombard's market share among non-life insurance companies has come down in recent months. The company's market share was 8.7% in September, down from over 11% in April, according to data from General Insurance Council of India.
"I think the key to look for is how we see things playing out over the next couple of quarters," a company official told analysts. "We are very, very optimistic in terms of how this particular reform is likely to kind of play out."
ICICI Lombard is now looking to scale up at a much faster speed with responsible underwriting, the management said. "So the guardrail which will continue to guide us is that we underwrite in a responsible manner and then the rest should flow out and get evened out with the volumes that will come through it." End
Edited by Ashish Shirke
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