ICICI Lombard General Insurance Company Ltd logo

ICICI Lombard General Insurance Company Ltd

ICICIGI NSE

Key Fundamentals

MidcapGeneral InsuranceInsurance
Market Cap
₹80,736 Cr
Volatility
Moderate
P/E Ratio
33.32
EBITDA
₹3,824 Cr
Return on Equity
16.66%
Debt to Equity
0
Book Value
₹340.49
EPS
₹42.73
52W High
₹2,064.9
52W Low
₹1,544.6

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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37 extracted metrics + investor summaries across FY01–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 25.7%

Growth Rate

Revenue Growth
12.86% ↗
Net Income Growth
10.51% ↗
Cash Flow Change
128.53% ↗
ROE
-3.81% ↘
ROCE
-1.89% ↘
EBITDA Margin (Avg.)
-1.67% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

ICICI Lombard is India's largest private general insurer with an 8.9% market share by GDPI in FY2026, reporting PAT growth of 10.5% to ₹2,772 crore in FY2026. However, its GDPI growth of 7% lagged the industry's 9.2% growth in FY2026, and the stock has declined 15% over the past year despite a market cap of approximately ₹81,210 crore.

Bull Case 8
  • Largest private general insurer in India with 8.9% market share by GDPI in FY2026, providing scale advantages in distribution and underwriting
  • Virtually debt-free balance sheet with solvency ratio of 2.67x as of March 2026, well above IRDAI's minimum requirement of 1.50x
  • Consistent ROE averaging 17.3% over the last five years, demonstrating steady capital efficiency for an insurance business
  • PAT grew 10.5% YoY to ₹2,772 crore in FY2026, with Q4 FY2026 net profit rising 7.3% YoY to ₹547 crore
  • Combined ratio improved to 102.4% in FY2026 (1/N basis) from 102.6% in FY2025, indicating better underwriting discipline
  • Compounded sales CAGR of 15-17% over 3-5-10 year periods shows long-term premium income growth runway
  • Healthy dividend payout of 25.7% with ₹7 per share final dividend declared for FY2026, offering 0.83% yield
  • Strong parentage with ICICI Bank providing distribution access and brand trust across retail and corporate segments
Bear Case 8
  • GDPI growth of just 7% in FY2026 significantly underperformed industry growth of 9.2%, indicating potential market share pressure
  • Stock has declined 15% over the past one year, underperforming the broader market despite steady fundamentals
  • PE ratio of 33.5x is elevated for a company whose compounded profit growth on TTM basis is -9%
  • Combined ratio remains above 100% at 102.4% in FY2026, meaning core underwriting operations are technically loss-making before investment income
  • H1 FY2026 combined ratio deteriorated to 104.0% from 103.2% in H1 FY2025, showing mid-year underwriting pressure
  • GDPI growth was just 0.6% in Q1 FY2026 vs industry growth of 8.8%, raising concerns about competitive positioning in certain quarters
  • Price-to-book of 4.78x is premium; any ROE compression from the current 17% level would make valuation harder to sustain
  • Industry combined ratio worsened to 119.3% in 9M-FY2026 from 113.2% in 9M-FY2025, signaling sector-wide claims inflation that could spill over

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Positives 1
  • 25 innovations on Silver Jubilee Aug 3

    ICICI Lombard unveiled 25 new solutions including 5 industry-firsts across health, motor, and commercial lines to mark its 25th anniversary, signaling product expansion.

Neutral 2
  • ₹27.15 Cr block trade on NSE Aug 6

    A block trade of ~1,61,308 shares was executed at ₹1,683.00 per share on NSE, totaling ₹27.15 crores, likely involving large institutional participants.

  • Multiple August investor meets scheduled Aug 12

    ICICI Lombard scheduled three institutional investor meetings in August 2026, including Motilal Oswal conference on Aug 18 and a Morgan Stanley virtual meet on Aug 28.

TL;DR: ICICI Lombard is in a steady phase with no material headwinds emerging in recent news. The company is actively engaging institutional investors through multiple conferences and demonstrated product momentum with 25 new launches on its Silver Jubilee. The ₹27.15 Cr block trade reflects institutional interest without signaling directional pressure. Outlook remains stable with continued focus on innovation and investor outreach.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,716
5,271
5,194
5,391
5,601
6,147
6,161
6,051
6,396
6,869
6,905
6,825
7,088
Expenses
4,206
4,509
4,639
4,701
4,831
5,207
5,199
5,443
5,415
5,825
6,051
6,138
6,566
Operating Profit
510
762
555
690
770
940
962
609
981
1,044
854
686
522
OPM %
11%
14%
11%
13%
14%
15%
16%
10%
15%
15%
12%
10%
7%
Other Income
10
2
19
8
4
-21
-2
60
13
33
16
32
14
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
520
764
574
698
774
919
960
668
994
1,077
870
718
536
Tax %
25%
24%
25%
26%
25%
24%
25%
24%
25%
24%
24%
24%
25%
Net Profit
390
577
431
520
580
694
724
510
747
820
659
547
403
EPS in Rs
7.95
11.75
8.76
10.54
11.77
14.03
14.63
10.28
15.04
16.47
13.23
10.96
8.08
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,234
6,033
7,520
6,912
11,163
11,517
12,161
16,026
17,876
20,572
23,961
26,994
27,687
Expenses
4,456
5,269
6,601
7,174
9,494
9,745
10,090
15,010
16,612
17,918
20,554
23,264
24,581
Operating Profit
-221
764
919
-262
1,669
1,772
2,072
1,016
1,264
2,654
3,407
3,731
3,107
OPM %
-5%
13%
12%
-3.8%
15%
15%
17%
6%
7%
13%
14%
14%
11%
Other Income
992
0
-2
1,569
-2
15
12
809
991
35
39
93
94
Interest
12
0
0
59
70
0
0
0
0
0
0
0
0
Depreciation
54
57
7
51
0
90
130
141
142
134
124
165
0
PBT
705
708
910
1,196
1,598
1,697
1,954
1,684
2,113
2,555
3,321
3,659
3,201
Tax %
17%
28%
23%
28%
34%
30%
25%
24%
18%
25%
24%
24%
—
Net Profit
585
507
702
862
1,049
1,194
1,473
1,271
1,729
1,919
2,508
2,772
2,428
EPS in Rs
13.11
11.34
15.56
18.98
23.1
26.27
32.4
25.89
35.21
38.94
50.6
55.61
48.74
Div. Payout %
15%
26%
22%
17%
26%
13%
25%
35%
28%
28%
25%
24%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
447
448
451
454
454
454
455
491
491
493
496
498
Reserves
2,439
2,789
3,450
4,087
4,946
5,680
7,144
8,702
9,953
11,712
13,989
16,135
Borrowings
0
0
485
485
485
485
485
255
35
35
0
0
Other Liabilities
11,760
12,440
18,965
24,723
27,517
30,423
31,214
41,401
44,607
51,068
54,660
59,477
Total Liabilities
14,646
15,676
23,351
29,750
33,403
37,042
39,298
50,848
55,086
63,308
69,145
76,111
Fixed Assets
381
510
516
368
1,965
664
717
941
883
930
728
834
CWIP
9
10
11
38
17
12
14
11
25
94
74
88
Investments
10,200
11,426
14,806
18,193
20,714
26,327
30,788
38,412
42,836
48,584
53,508
58,338
Other Assets
4,056
3,730
8,018
11,151
10,707
10,039
7,779
11,485
11,342
13,700
14,835
16,851
Total Assets
14,646
15,676
23,351
29,750
33,403
37,042
39,298
50,848
55,086
63,308
69,145
76,111
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-98
511
1,628
2,390
2,976
3,433
1,774
809
2,290
2,407
1,147
2,622
Investing
171
-310
-1,990
-1,896
-2,856
-3,382
-1,367
135
-1,685
-1,921
-1,137
-1,733
Financing
-93
-148
361
-96
-310
-420
-212
-879
-695
-355
-257
-336
Net Cash Flow
-20
53
-1
398
-190
-369
195
65
-90
131
-247
554
Free Cash Flow
-150
459
1,574
2,315
2,860
3,130
1,695
737
2,170
2,217
918
2,380
CFO/OP
44
67
177
-912
178
222
103
117
206
115
57
105
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
292
0
0
0
0
0
0
0
Cash Conversion Cycle
0
0
0
0
292
0
0
0
0
0
0
0
Working Capital Days
-576
-532
-521
-720
-564
-670
-705
-690
-685
-661
-603
-599
ROCE %
27%
23%
24%
17%
31%
27%
27%
19%
21%
23%
24%
22%

Shareholding Pattern

As of Jun 2026
Promoters 51.22%
FIIs 21.45%
DIIs 20.75%
Public 5.17%
Others 1.40%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
51.88%
51.87%
48.08%
48.05%
48.04%
48.03%
48.02%
48.02%
48.02%
48.01%
48.00%
47.91%
51.27%
51.81%
51.66%
51.60%
51.55%
51.46%
51.37%
51.31%
51.29%
51.22%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
22.37%
0.00%
23.06%
23.93%
24.75%
24.36%
23.68%
23.93%
24.04%
23.35%
22.29%
21.45%
DIIs
9.91%
9.71%
8.64%
11.48%
11.55%
13.56%
14.80%
16.84%
17.38%
18.26%
18.56%
16.84%
16.11%
17.29%
16.73%
17.29%
17.84%
17.61%
17.51%
18.36%
19.52%
20.75%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
5.23%
5.16%
4.85%
5.14%
5.89%
6.09%
6.29%
6.23%
6.32%
6.32%
5.62%
5.64%
5.45%
5.54%
5.22%
5.36%
5.48%
5.49%
5.54%
5.47%
5.36%
5.17%
Others
32.98%
33.25%
38.43%
35.33%
34.51%
32.32%
30.88%
28.91%
28.27%
27.41%
5.45%
29.61%
4.11%
1.43%
1.64%
1.38%
1.45%
1.50%
1.54%
1.51%
1.54%
1.40%
No. of Shareholders
2,58,816
2,54,123
2,63,588
2,75,002
2,87,701
2,91,428
2,98,048
2,92,282
2,87,023
2,75,356
2,64,710
2,52,680
2,39,489
2,37,248
2,36,699
2,38,406
2,40,853
2,40,980
2,39,812
2,35,714
2,29,930
2,29,599

Documents

Frequently Asked Questions about ICICI Lombard General Insurance Company Ltd

What does ICICI Lombard General Insurance Company Ltd do?
ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels.[1] It was established in 2001 as a JV between ICI...
Where is ICICI Lombard General Insurance Company Ltd (ICICIGI) listed?
ICICI Lombard General Insurance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: ICICIGI and BSE: 540716. You can view its live share price, financials, and ratios on Tapetide.
Which sector does ICICI Lombard General Insurance Company Ltd belong to?
ICICI Lombard General Insurance Company Ltd operates in the Insurance sector within the General Insurance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of ICICI Lombard General Insurance Company Ltd?
ICICI Lombard General Insurance Company Ltd has a market capitalisation of approximately ₹80736.12 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of ICICI Lombard General Insurance Company Ltd?
The Price-to-Earnings (PE) ratio of ICICI Lombard General Insurance Company Ltd is 33.32. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of ICICI Lombard General Insurance Company Ltd?
Over the past 52 weeks, ICICI Lombard General Insurance Company Ltd has traded between a low of ₹1,544.6 and a high of ₹2,064.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does ICICI Lombard General Insurance Company Ltd pay dividends?
Yes, ICICI Lombard General Insurance Company Ltd has a dividend yield of 0.83%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of ICICI Lombard General Insurance Company Ltd?
ICICI Lombard General Insurance Company Ltd has a Return on Equity (ROE) of 16.66%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research ICICI Lombard General Insurance Company Ltd on Tapetide?
On Tapetide, you can view ICICI Lombard General Insurance Company Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels.[1] It was established in 2001 as a JV between ICICI Bank and Fairfax Financial Holdings Ltd. ICICI held 64% stake and the rest was held by JV partner. Fairfax Financial exited in 2019 by selling its remaining 5% stake in the company for ~2,600 crores.[2]

Website icicilombard.com
CEO Mr. Sanjeev Radheyshyam Mantri B.Com, CA
Employees 15,123
Listed 2017-09-27
Face Value ₹ 10
Issued Size 49,80,44,825

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