ICICI Lombard’s September-quarter profit rises 16% to ₹946 crore as net premium earned grows 18%

ICICI Lombard General Insurance Company Limited has told the exchanges that its board, at a meeting on 14 Oct 2026, approved the audited results for the quarter and half year ended 30 Sep 2026. Profit after tax for the September quarter was ₹946.40 crore, up 16% from ₹819.54 crore a year earlier, and net premium earned rose 18% to ₹6,651.87 crore from ₹5,651.65 crore.

Gross premiums written were ₹7,702.09 crore, up 9% from ₹7,058.86 crore a year earlier but 13% below the ₹8,860.27 crore of the June 2026 quarter. Net premium written rose 17% to ₹6,213.66 crore. Income from investments (net) was ₹1,160.83 crore, against ₹898.93 crore, and total income was ₹7,843.72 crore, against ₹6,582.67 crore.

The combined ratio was 107.0%, against 105.1% a year earlier and 107.2% in June, and the incurred claims ratio was 72.7%, against 72.1%. The underwriting loss was ₹318.38 crore, against ₹178.36 crore. Basic earnings per share were ₹18.95, against ₹16.49, and the solvency ratio was 2.75, against 2.73.

For the half year, gross premiums written were ₹16,562.36 crore against ₹15,111.41 crore a year earlier, and profit after tax was ₹1,349.57 crore against ₹1,566.62 crore, a fall of 14%. The board also declared an interim dividend, which is the subject of a separate article.

Inference

A combined ratio above 100% means claims and expenses together were greater than the premium earned from the underwriting business, which is why the filing shows an underwriting loss. Profit still rose because income from investments was higher by about ₹262 crore than a year earlier.

Compared with the June quarter, profit was more than twice as high, while gross premiums written were lower. The half-year profit was lower than a year earlier because the June 2026 quarter was weaker. The filing does not explain the quarter-to-quarter movement in premiums.