ICICI Lombard General Insurance Company Limited

₹ 63.87 billion

ENDED JUNE 30, 2023 July 18, 2023  Gross Direct Premium Income (GDPI) of the Company stood at ₹ 63.87 billion in Q1 FY2024 compared to ₹ 53.70 billion in Q1 FY2023, a growth of 18.9%, which was higher than t

₹ 53.70 billion

ross Direct Premium Income (GDPI) of the Company stood at ₹ 63.87 billion in Q1 FY2024 compared to ₹ 53.70 billion in Q1 FY2023, a growth of 18.9%, which was higher than the industry growth of 17.9%. Excluding cro

18.9%

ompany stood at ₹ 63.87 billion in Q1 FY2024 compared to ₹ 53.70 billion in Q1 FY2023, a growth of 18.9%, which was higher than the industry growth of 17.9%. Excluding crop, GDPI growth of the Company w

17.9%

d to ₹ 53.70 billion in Q1 FY2023, a growth of 18.9%, which was higher than the industry growth of 17.9%. Excluding crop, GDPI growth of the Company was at 19.2%, which was higher than the industry growt

19.2%

h was higher than the industry growth of 17.9%. Excluding crop, GDPI growth of the Company was at 19.2%, which was higher than the industry growth of 17.4% in Q1 FY2024.  Combined ratio stood at 103.

17.4%

luding crop, GDPI growth of the Company was at 19.2%, which was higher than the industry growth of 17.4% in Q1 FY2024.  Combined ratio stood at 103.8% for Q1 FY2024 compared to 104.1% for Q1 FY2023.

103.8%

9.2%, which was higher than the industry growth of 17.4% in Q1 FY2024.  Combined ratio stood at 103.8% for Q1 FY2024 compared to 104.1% for Q1 FY2023. o Excluding the impact of cyclone of ₹ 0.35 bil

104.1%

ndustry growth of 17.4% in Q1 FY2024.  Combined ratio stood at 103.8% for Q1 FY2024 compared to 104.1% for Q1 FY2023. o Excluding the impact of cyclone of ₹ 0.35 billion, the combined ratio was 10

₹ 0.35 billion

at 103.8% for Q1 FY2024 compared to 104.1% for Q1 FY2023. o Excluding the impact of cyclone of ₹ 0.35 billion, the combined ratio was 102.9% for Q1 FY2024.  Profit before tax (PBT) grew by 11.8% to ₹ 5.20

102.9%

1% for Q1 FY2023. o Excluding the impact of cyclone of ₹ 0.35 billion, the combined ratio was 102.9% for Q1 FY2024.  Profit before tax (PBT) grew by 11.8% to ₹ 5.20 billion in Q1 FY2024 as against

11.8%

₹ 0.35 billion, the combined ratio was 102.9% for Q1 FY2024.  Profit before tax (PBT) grew by 11.8% to ₹ 5.20 billion in Q1 FY2024 as against ₹ 4.65 billion in Q1 FY2023. o Capital gains was at ₹

₹ 5.20 billion

illion, the combined ratio was 102.9% for Q1 FY2024.  Profit before tax (PBT) grew by 11.8% to ₹ 5.20 billion in Q1 FY2024 as against ₹ 4.65 billion in Q1 FY2023. o Capital gains was at ₹ 1.23 billion in Q

Notes

1

Safe harbor

1

Notes

Q1 FY2023 15.0% 104.1% Q1 FY2024 14.7% 103.8% FY2023 17.7% 104.5% Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business Return on Average Equity (ROAE) = Profit After Tax / ((Opening Net Worth + Closing Net Worth)/2) Net Worth = Share Capital + Reserves & Surplus About ICICI Lombard General Insurance Company Limited ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 21 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade’. The company has issued over 32.7 million pol

Safe harbor

Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' , 'would' , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion in business, the impact of any acquisitions, technological implementation and changes, the actual growth in demand for insurance products and services, investment income, cash flow projections, our exposure to market risks, policies and actions of regulatory authorities; impact of competition; the impact of changes in capital, solvency or accounting standards, tax and other legi