In This Article:
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Gross Direct Premium Income (GDPI): INR 206.23 billion for nine months FY25, a growth of 10.3% year-over-year.
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GDPI for Q3: INR 62.14 billion, a degrowth of 0.3% compared to the previous year.
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Retail GDPI Growth: 9.4% in Q3 FY25.
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Health Segment GDPI: INR 13.16 billion in Q3 FY25, a degrowth of 0.6% year-over-year.
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Commercial Lines GDPI: INR 14.63 billion in Q3 FY25, a degrowth of 8.6% year-over-year.
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Combined Ratio: 102.7% in Q3 FY25, improved from 103.6% in Q3 FY24.
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Investment Income: INR 11.21 billion in Q3 FY25, up from INR 8.57 billion in Q3 FY24.
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Profit Before Tax (PBT): INR 9.6 billion in Q3 FY25, a growth of 67.3% year-over-year.
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Profit After Tax (PAT): INR 7.24 billion in Q3 FY25, a growth of 67.9% year-over-year.
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Return on Average Equity: 21.5% in Q3 FY25, up from 15.3% in Q3 FY24.
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Solvency Ratio: 2.36 times as of December 31, 2024.
Release Date: January 17, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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ICICI Lombard General Insurance Co Ltd (NSE:ICICIGI) reported a profit before tax growth of 42.8% for the nine months of FY 2025.
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The company maintained a solvency ratio of 2.36, which is significantly higher than the regulatory requirement of 1.5.
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The Motor insurance segment grew by 9.4% in Q3 FY 2025, outperforming the industry growth of 7.6%.
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Retail Health segment registered a robust growth of 34.3% in Q3 FY 2025, gaining market share.
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The company's digital initiatives led to a 9.9% growth in customer-facing digital business, enhancing customer experience.
Negative Points
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ICICI Lombard General Insurance Co Ltd (NSE:ICICIGI) experienced a degrowth of 0.3% in GDPI for Q3 FY 2025, compared to the industry growth of 9.5%.
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The Commercial Lines segment saw a degrowth of 8.6% due to continued pricing pressure.
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The Health segment experienced a degrowth of 0.6% in GDPI for Q3 FY 2025.
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The combined ratio for the industry worsened to 113.3% for H1 FY 2025, indicating increased expense ratios.
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The company's solvency ratio decreased by 30 basis points due to regulatory changes in the inadmissibility of effects.
Q & A Highlights
Q: Can you provide commentary on the Motor segment's loss ratios and market share gains? A: Gopal Balachandran, CFO, explained that the company has been selective in writing risks, which has improved loss ratios. The market share has increased due to strategic risk selection and favorable loss development. The company aims to maintain a loss ratio range of 65-67% for the Motor segment.