ICICI Lombard Q2 net profit rises 18%

ICICI Lombard General Insurance reported an 18% rise in net profit for the second quarter of FY26, even as its gross direct premium income (GDPI) fell 1.9% YoY to ₹6,596 crore from ₹6,721 crore. The insurer’s combined ratio rose to 105.1% from 104.5% in the same period last year. Excluding catastrophic losses, the ratio stood at 103.8% versus 102.6%.

The board declared an interim dividend of ₹6.5 per share. The solvency ratio was flat at 2.73x from 2.7x in June, well above the regulatory minimum of 1.5x. The GDPI numbers over last quarter is not comparable as the regulator changed accounting method from October of last year and the insurer adopted the new 1/N accounting method for long-term products. For the first half of FY26, GDPI declined 0.5% compared with industry growth of 7.3%.