Earnings Review
ICICI Lombard Q3 PAT dn 9% YoY vs expectations of 12% rise
This story was originally published at 21:51 IST on 13 January 2026
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--ICICI Lombard Oct-Dec net profit INR 6.59 bln
--Analysts saw ICICI Lombard Oct-Dec net profit at INR 8.08 bln
--ICICI Lombard Oct-Dec net profit INR 6.59 bln vs INR 7.24 bln year ago
--ICICI Lombard Oct-Dec total income INR 66.10 bln vs INR 58.83 bln year ago
--ICICI Lombard Apr-Dec net profit INR 22.25 bln vs INR 19.99 bln year ago
--ICICI Lombard Apr-Dec total income INR 192.76 bln vs INR 170.85 bln yr ago
--ICICI Lombard Q3 net premium written INR 59.63 bln vs INR 50.84 bln yr ago
--ICICI Lombard Q3 net premium earned INR 56.85 bln vs INR 50.45 bln yr ago
--ICICI Lombard Oct-Dec claims paid INR 34.28 bln vs INR 32.04 bln year ago
--ICICI Lombard combined ratio at 104.5% on Dec 31 vs 102.7% year ago
--ICICI Lombard incurred claim ratio at 68.7% on Dec 31 vs 65.8% year ago
--ICICI Lombard solvency ratio 2.69 times on Dec 31 vs 2.73 times on Sept 30
By Nandini Sinha and Meera Nair
MUMBAI – ICICI Lombard General Insurance Co. Ltd. reported a fall in net profit for the December quarter Tuesday, against the Street's estimates of growth in the low double digits. Its net profit fell as expenses rose faster than the rise in total income.
The insurance company's net profit for the December quarter fell nearly 9% on year to INR 6.59 billion. Sequentially, the net profit fell almost 20%. Analysts had expected ICICI Lombard's net profit to rise 12% on year to INR 8.08 billion, according to the average of five estimates.
ICICI Lombard's total income rose to INR 66.10 billion, up over 12% on year. Its net premium earned rose nearly 13% on year to INR 56.85 billion, lower than expectatons of INR 58.31 billion.
The insurer's total operating expenses rose more than 16% on year to INR 60.39 billion with outstanding claims rising fourfold to INR 4.76 billion. Owing to the higher expenses, the company reported an underwriting loss of INR 3.54 billion, against a loss of INR 1.52 billion a year ago.
The combined ratio, a key profitability metric, fell to 104.5% as of Dec. 31 from 105.1% a quarter ago but was higher than 102.7% recorded a year ago. Combined ratio is a measure of an insurer's underwriting performance, with a ratio below 100% showing underwriting profit.
ICICI Lombard's solvency ratio was 2.69 times as of Dec. 31, compared with 2.73 times a quarter ago and 2.36 times a year ago. The incurred claim ratio was 68.7% at the end of December, down from 72.1% a quarter ago, but higher than 65.8% a year ago.
The insurer's claims paid rose to INR 34.28 billion in the December quarter from INR 32.04 billion a year ago.
In Apr-Dec, the insurance company posted a net profit of INR 22.25 billion, up over 11% on year from INR 19.99 billion. The company's total income for Apr-Dec was INR 192.76 billion, up almost 13% from INR 170.85 billion a year ago.
ICICI Lombard's shares closed at INR 1,885.50 per share Tuesday, down 1.3% from Monday's close on the National Stock Exchange. End
Edited by Rajeev Pai
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