ICICI Lombard General Insurance reported a net profit of ₹946 crore (₹9.46 billion) for the July–September 2026 quarter (Q2 FY27), up 15.5% from about ₹820 crore a year earlier. The company announced the results in a stock-exchange filing on 14 October 2026.
Premium growth
The insurer's gross direct premium income (GDPI), excluding crop and mass health insurance, grew 13.9% in the quarter, against industry growth of 13.2%, according to its press release. Including those segments, headline premium growth was much slower, and different reports cite different totals depending on the accounting basis used.
The company's investor presentation shows its health, travel and personal accident segment grew 26.8% in Q2, compared with 18.9% for the industry. Retail health premiums grew 64.0%, against industry growth of 32.3%.
Costs and underwriting
Business Standard reported that commission-related expenses rose 25.3% year-on-year to ₹1,269 crore, and that the company's underwriting loss widened to ₹318.4 crore from ₹178.4 crore.
The combined ratio, which adds up claims and expenses as a share of premium, was reported at 107% in the financial results, up from 105.1% a year earlier. On the alternative basis used in the company's press release, the figure was 104.5%, against 103.9%. A ratio above 100% means the insurer paid out more in claims and expenses than it earned in premium; it then relies on investment income to make a profit.
Business Standard also reported an incurred claims ratio of 72.7%, slightly higher than 72.1% a year earlier.
Solvency and dividend
The company's solvency ratio was 2.74x as of 30 September 2026, as stated in its press release, compared with the regulatory minimum of 1.50x. The solvency ratio measures how much surplus capital an insurer holds compared with what regulations require, and is one indicator of its ability to pay claims.
The board declared an interim dividend of ₹7 per share for the first half of FY27, up from ₹6.50 a year earlier. The record date for the dividend is 23 October 2026.
Why the numbers differ across reports
Insurers now report some figures on two bases. Under the "1/n" method, premium on long-term policies (for example, a three-year health policy) is counted evenly across the years of cover, while the "n" basis reflects it differently. This is why profit, premium and combined ratio figures for the same quarter can vary between the press release, the results table and media reports. The figures above state which source and basis they come from where that is clear.