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ICICIGI - ICICI Lombard

📊 NSE: ICICIGI 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 7:51

📢 Recent Corporate Announcements

ICICI Lombard Allots 61,961 Equity Shares Under Employee Stock Option Schemes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 22 Apr 2026, 11:34 PM

ICICI Lombard General Insurance Company Limited has announced the allotment of 61,961 equity shares of face value ₹10 each on April 22, 2026. The allotment is split between the 2005 Employees Stock Option Scheme (38,578 shares) and the 2023 Employees Stock Unit Scheme (23,383 shares). These shares will rank pari-passu with existing equity shares, meaning they carry identical rights to dividends and voting. This is a routine administrative action resulting from the exercise of options by employees.

Total allotment of 61,961 equity shares of ₹10 each on April 22, 2026
38,578 shares issued under the ICICI Lombard Employees Stock Option Scheme - 2005
23,383 shares issued under the ICICI Lombard - Employees Stock Unit Scheme - 2023
New shares rank pari-passu with existing equity shares in all respects

💡 No action is required as this is a routine ESOP allotment with negligible impact on equity dilution. Investors should remain focused on the company's quarterly underwriting performance and premium growth.

ICICI Lombard to Transfer Unclaimed FY2019 Dividends and Shares to IEPF by July 30, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Apr 2026, 08:34 PM

ICICI Lombard has issued a notice to shareholders regarding the mandatory transfer of unclaimed Final Dividends from FY2018-2019 to the Investor Education and Protection Fund (IEPF). Shares for which dividends have remained unclaimed for seven consecutive years are also liable for transfer on July 30, 2026. This action is part of the Ministry of Corporate Affairs' 'Saksham Niveshak' campaign to encourage KYC updates. Affected shareholders must complete their claims and update bank details by June 1, 2026, to receive payments directly from the company.

Final Dividend for FY2018-2019 and corresponding shares will be transferred to IEPF on July 30, 2026.
Shareholders must update KYC and bank details by June 1, 2026, to claim unclaimed amounts before transfer.
The transfer is mandatory under Section 124 of the Companies Act, 2013, for dividends unclaimed for 7 consecutive years.
The notice is part of the 'Saksham Niveshak' campaign running from April 1, 2026, to July 9, 2026.

💡 Investors should check the 'Unclaimed Dividend' section on ICICI Lombard's website to see if they have pending dues. If listed, ensure bank details are updated with your DP or RTA before June 1, 2026, to avoid the complex process of claiming from the IEPF authority.

ICICI Lombard Releases Audio Recording of Q4 and FY2026 Earnings Conference Call

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 15 Apr 2026, 10:18 PM

ICICI Lombard General Insurance Company has released the audio recording of its earnings conference call held on April 15, 2026. The call discussed the company's financial performance for the fourth quarter and the full financial year ended March 31, 2026. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can access the recording via the company's website to gain deeper insights into management's commentary on operational metrics and future outlook.

Earnings conference call conducted on April 15, 2026, for Q4 and FY26 results.
Audio recording link made available on the company's official website for public access.
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The call covers the financial performance for the period ending March 31, 2026.

💡 Investors should review the earnings call recording to understand management's guidance on combined ratios and growth strategies in the competitive general insurance landscape.

ICICI Lombard Declares ₹7 Dividend, Appoints Shyam Srinivasan & Grants 2.75M Stock Options

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 15 Apr 2026, 07:57 PM

ICICI Lombard's Board has recommended a final dividend of ₹7 per share for FY2026, representing 70% of the face value. The company is significantly strengthening its board by appointing Mr. Shyam Srinivasan, the former MD & CEO of Federal Bank, as an Independent Director for a five-year term. Additionally, the board approved the grant of 1.7 million stock options at an exercise price of ₹1,782.20 and 1.05 million stock units at face value to employees. B S R & Co. LLP has also been appointed as the new Joint Statutory Auditor for a four-year tenure.

Recommended a final dividend of ₹7.0 per equity share for the financial year ended March 31, 2026.
Appointed veteran banker Mr. Shyam Srinivasan as an Independent Director for a 5-year term effective April 15, 2026.
Approved the grant of 1.7 million stock options (ESOP 2005) at an exercise price of ₹1,782.20 per share.
Approved the grant of 1.05 million stock units (ESU 2023) at a grant price of ₹10 per share.
Appointed B S R & Co. LLP as Joint Statutory Auditor for a term of 4 consecutive years.

💡 Investors should view the dividend payout and the high-profile board appointment as positive signs of stability and strong governance. Existing shareholders should ensure they are registered by the record date to receive the ₹7 dividend.

ICICI Lombard Recommends ₹7 Dividend and Appoints Shyam Srinivasan to Board

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 15 Apr 2026, 07:50 PM

ICICI Lombard's Board has recommended a final dividend of ₹7.0 per equity share (70% of face value) for the financial year ended March 31, 2026. In a significant leadership move, the company appointed Mr. Shyam Srinivasan, former MD & CEO of Federal Bank, as an Independent Director for a five-year term. The board also approved the grant of 1.7 million stock options at ₹1,782.20 and 1.05 million stock units at ₹10 to eligible employees. Furthermore, B S R & Co. LLP has been appointed as the new Joint Statutory Auditor for a four-year tenure.

Recommended a final dividend of ₹7.0 per equity share for FY2026, subject to shareholder approval
Appointed veteran banker Shyam Srinivasan as Independent Director for a 5-year term starting April 15, 2026
Approved grant of 1.7 million stock options under ESOS-2005 at an exercise price of ₹1,782.20
Approved grant of 1.05 million stock units under ESUS-2023 at a grant price of ₹10 per share
Appointed M/s. B S R & Co. LLP as Joint Statutory Auditors for a term of 4 consecutive years

💡 The appointment of a high-caliber leader like Shyam Srinivasan strengthens the board's expertise in financial services, which is a positive signal for long-term governance. Investors should monitor the upcoming AGM for the finalization of the ₹7 dividend and the statutory auditor transition.

ICICI Lombard Declares ₹7 Dividend, Appoints B S R & Co. as Auditor and New Independent Director

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 15 Apr 2026, 07:42 PM

ICICI Lombard's board has recommended a final dividend of ₹7 per share for FY2026, representing 70% of the face value. The company is rotating its joint statutory auditors, appointing B S R & Co. LLP for a four-year term as PKF Sridhar & Santhanam LLP completes its tenure. Furthermore, the board approved the appointment of veteran banker Shyam Srinivasan as an Independent Director for five years. To align employee interests, the company also granted 1.7 million stock options at ₹1,782.20 and 1.05 million stock units.

Recommended a final dividend of ₹7.0 per equity share (70% of face value) for the financial year ended March 31, 2026.
Appointed M/s. B S R & Co. LLP as Joint Statutory Auditor for a 4-year term, replacing PKF Sridhar & Santhanam LLP.
Appointed former Federal Bank CEO Shyam Srinivasan as an Independent Director for a 5-year term starting April 15, 2026.
Approved the grant of 1.7 million stock options at an exercise price of ₹1,782.20 and 1.05 million stock units at face value.
Statutory auditors issued an audit report with an unmodified opinion for the financial year 2025-26.

💡 Investors should take confidence in the appointment of a high-profile industry veteran like Shyam Srinivasan to the board and the steady dividend payout. The auditor rotation is a routine regulatory transition and the unmodified audit opinion confirms financial reporting integrity.

ICICI Lombard FY26 PAT Rises 10.5% to ₹27.72B; Final Dividend of ₹7/Share Declared

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 15 Apr 2026, 07:35 PM

ICICI Lombard reported a 10.5% YoY growth in Profit After Tax (PAT) for FY2026, reaching ₹27.72 billion. The company's Gross Direct Premium Income (GDPI) grew by 18.2% in Q4 FY2026, significantly outperforming the industry growth of 10.9%. While the full-year combined ratio slightly increased to 103.4%, the Q4 ratio improved to 101.2%, indicating better operational efficiency towards the year-end. The board recommended a total dividend of ₹13.50 per share for the fiscal year, up from ₹12.50 in the previous year.

FY2026 PAT grew 10.5% YoY to ₹27.72 billion, with Q4 PAT up 7.3% at ₹5.47 billion.
Q4 GDPI growth of 18.2% outperformed industry growth of 10.9%, driven by strong retail health performance.
Combined ratio improved to 101.2% in Q4 FY2026 from 102.5% in the previous year's quarter.
Retail health segment delivered robust growth of 54.0% for the full year FY2026, increasing market share to 4.1%.
Solvency ratio remains strong at 2.67x, significantly above the regulatory requirement of 1.50x.

💡 Investors should monitor the company's continued market share gains in the high-margin retail health segment and the improving trend in the combined ratio. The stock remains a strong long-term play in the general insurance sector with a healthy dividend payout.

ICICI Lombard Recommends ₹7 Dividend; Appoints Shyam Srinivasan as Independent Director

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 15 Apr 2026, 07:15 PM

ICICI Lombard's board has recommended a final dividend of ₹7.0 per share for FY2026, representing 70% of the face value. A significant management update includes the appointment of veteran banker Shyam Srinivasan, former MD & CEO of Federal Bank, as an Independent Director for a five-year term. The board also approved the grant of 1.7 million stock options and 1.05 million stock units to employees. Furthermore, B S R & Co. LLP has been proposed as the new Joint Statutory Auditor for a four-year term.

Recommended a final dividend of ₹7.0 per equity share for the financial year ended March 31, 2026
Appointed Mr. Shyam Srinivasan as an Additional Independent Director for a term of 5 years effective April 15, 2026
Approved grant of 1.7 million stock options at an exercise price of ₹1,782.20 per share
Approved grant of 1.05 million stock units at a grant price of ₹10 per share
Proposed appointment of B S R & Co. LLP as Joint Statutory Auditors for a 4-year term

💡 Investors should take note of the ₹7 dividend and the high-profile board appointment of Shyam Srinivasan, which adds significant leadership depth. The stock option grants at ₹1,782.20 provide a benchmark for management's long-term valuation expectations.

ICICI Lombard Recommends ₹7 Final Dividend and Appoints Shyam Srinivasan to Board

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 15 Apr 2026, 07:04 PM

ICICI Lombard has recommended a final dividend of ₹7 per equity share for the financial year ended March 31, 2026, representing a 70% payout on face value. The company also announced the appointment of veteran banker Shyam Srinivasan as an Independent Director for a five-year term, strengthening its board governance. Additionally, the board approved the grant of 1.7 million stock options and 1.05 million stock units to employees. B S R & Co. LLP has been appointed as the new joint statutory auditor for a four-year term, replacing the outgoing auditor.

Recommended a final dividend of ₹7.0 per equity share (70% of face value) for FY 2025-26.
Appointed former Federal Bank CEO Shyam Srinivasan as an Independent Director for a 5-year term.
Approved the grant of up to 1.7 million stock options at an exercise price of ₹1,782.20 per option.
Approved the grant of up to 1.05 million stock units at a grant price of ₹10 per share.
Appointed B S R & Co. LLP as Joint Statutory Auditor for a 4-year term starting from the 26th AGM.

💡 Investors should welcome the dividend payout and the high-profile board appointment as signs of strong governance and capital return. The stock remains a key watch for long-term portfolios given its leadership in the general insurance sector.

ICICI Lombard Approves ₹7 Final Dividend and Appoints Shyam Srinivasan as Independent Director

🟢 POSITIVE ⭐ 8/10

BOARD_MEETING 📅 15 Apr 2026, 07:01 PM

ICICI Lombard's board has recommended a final dividend of ₹7 per share for the financial year ended March 31, 2026, subject to shareholder approval. A significant leadership addition was made with the appointment of Mr. Shyam Srinivasan, former MD & CEO of Federal Bank, as an Independent Director for a five-year term. The company also approved the issuance of 1.7 million stock options at an exercise price of ₹1,782.20 and 1.05 million stock units. Furthermore, B S R & Co. LLP has been appointed as the new Joint Statutory Auditor for a four-year tenure starting from the 26th AGM.

Recommended a final dividend of ₹7.0 per equity share (70% of face value) for FY2026.
Appointed veteran banker Shyam Srinivasan as an Independent Director for a 5-year term effective April 15, 2026.
Approved the grant of 1.7 million stock options at ₹1,782.20 and 1.05 million stock units at ₹10 face value.
Appointed B S R & Co. LLP as Joint Statutory Auditors for a 4-year term following the completion of PKF Sridhar & Santhanam LLP's tenure.

💡 The dividend payout and the addition of a high-caliber leader like Shyam Srinivasan to the board are positive signals for long-term governance and growth. Investors should maintain their positions while reviewing the full FY26 financial statements for operational efficiency metrics.

ICICI Lombard Allots 53,824 Equity Shares Under Employee Stock Option Schemes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Apr 2026, 11:38 PM

ICICI Lombard General Insurance Company Limited has allotted 53,824 equity shares of ₹10 each following the exercise of employee stock options. The allotment consists of 52,972 shares under the 2005 scheme and 852 shares under the 2023 unit scheme. A significant portion of 15,000 shares was allotted to a Whole-time Director of the company. These shares will rank pari-passu with existing equity, representing a very minor expansion of the company's total share capital.

Total allotment of 53,824 equity shares with a face value of ₹10 each
52,972 shares issued under the ICICI Lombard Employees Stock Option Scheme-2005
852 shares issued under the ICICI Lombard Employees Stock Unit Scheme-2023
15,000 shares specifically allotted to the company's Whole-time Director
New shares rank pari-passu with existing equity shares in all respects

💡 No action is required as this is a routine administrative allotment with negligible impact on earnings per share (EPS). Investors should focus on the company's quarterly underwriting performance and combined ratio.

ICICI Lombard Gets Stay from Bombay HC on ₹31.18 Crore GST Demand and Penalty

🟢 POSITIVE ⭐ 6/10

LEGAL 📅 29 Mar 2026, 09:45 PM

ICICI Lombard has secured a stay from the Bombay High Court against a GST demand of ₹31.18 crore and an equivalent penalty of ₹31.18 crore. The dispute relates to the applicability of GST on Group Health and Personal Accident insurance policies supplied to SEZ units between July 2017 and March 2024. The court has granted the stay until the final disposal of the company's writ petition, providing temporary relief from immediate financial liability. This is an industry-wide issue, and the Revenue department has four weeks to file a response.

Bombay High Court granted a stay on a GST demand of ₹31.18 crore plus interest.
A matching penalty of ₹31.18 crore has also been stayed until final disposal of the petition.
The tax dispute covers a seven-year period from July 2017 to March 2024.
The matter involves industry-wide issues regarding GST on supplies to Special Economic Zones (SEZ).
The Revenue department has been granted four weeks to file their reply to the court.

💡 Investors should view this as a positive development that mitigates immediate cash outflow risks. Monitor the final court verdict as it will clarify tax liabilities for the entire insurance sector regarding SEZ supplies.

ICICI Lombard Allots 132,558 Equity Shares Under ESOP Schemes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Mar 2026, 07:59 PM

ICICI Lombard General Insurance Company Limited has allotted 132,558 equity shares of ₹10 each on March 26, 2026. The allotment consists of 131,958 shares under the 2005 ESOP scheme and 600 shares under the 2023 ESPS scheme. A specific allotment of 12,590 shares was made to the company's Whole-time Director. These new shares will rank pari-passu with existing equity shares, resulting in a marginal increase in the total paid-up capital.

Total allotment of 132,558 equity shares with a face value of ₹10 each.
131,958 shares issued under the Employees Stock Option Scheme-2005.
600 shares issued under the Employees Stock Unit Scheme-2023.
12,590 shares specifically allotted to the Whole-time Director of the company.

💡 This is a routine corporate action with negligible equity dilution. Investors do not need to take any specific action based on this announcement.

ICICI Lombard Board to Meet April 15 for FY26 Results and Final Dividend Recommendation

🔵 WATCH ⭐ 7/10

BOARD_MEETING 📅 25 Mar 2026, 03:24 PM

ICICI Lombard General Insurance has scheduled a board meeting on April 15, 2026, to approve the audited financial results for the quarter and full year ending March 31, 2026. The board will also consider recommending a final dividend for the financial year 2025-26. In compliance with SEBI regulations, the trading window for designated persons will be closed from April 1, 2026, to April 17, 2026. This meeting is crucial for investors to assess the company's annual growth and capital allocation strategy.

Board meeting scheduled for April 15, 2026, to approve Q4 and FY2026 audited financial results.
The board will evaluate and potentially recommend a final dividend for the financial year ending March 31, 2026.
Trading window for designated persons to remain closed from April 1 to April 17, 2026.
Results will provide a comprehensive view of the company's performance for the entire 2025-26 fiscal year.

💡 Investors should monitor the April 15 announcement for key metrics like the combined ratio and premium growth, as well as the dividend payout ratio. Existing shareholders should hold for the potential dividend yield and performance update.

ICICI Lombard Acquires HDFC Bank Shares Worth ₹0.39 Billion; Total Stake at 0.05%

🟡 NEUTRAL ⭐ 4/10

M&A 📅 19 Mar 2026, 09:53 PM

ICICI Lombard General Insurance has increased its stake in HDFC Bank through a cash acquisition of shares worth ₹0.39 billion on March 19, 2026. This transaction was conducted as part of the company's ordinary investment functions and brings its cumulative holding in the bank to 0.05%. HDFC Bank, India's largest private sector bank, reported a turnover of ₹4,709.16 billion for FY 2024-25. The investment was executed in multiple tranches over a period of time.

Acquired HDFC Bank shares worth ₹0.39 billion in a single day transaction on March 19, 2026
Cumulative shareholding in HDFC Bank reached 0.05% post-acquisition
Investment is part of the ordinary course of business for the insurance company's investment function
HDFC Bank's market capitalization stood at ₹12.31 trillion at the time of the announcement
HDFC Bank's turnover grew from ₹2,046.66 billion in FY23 to ₹4,709.16 billion in FY25

💡 This is a routine treasury investment by ICICI Lombard and does not represent a strategic shift or significant capital allocation. Investors should continue to monitor the company's core insurance performance rather than these minor portfolio adjustments.

View All ICICIGI Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Gross Direct Premium Income (GDPI) grew 8.3% to INR 26,833 Cr in FY2025 from INR 24,776 Cr in FY2024. Segment mix in FY2025: Motor (40.0%), Health, Travel & Personal Accident (28.6%), and Fire (11.8%). H1 FY2026 growth: Fire segment grew 15.3% YoY, Engineering grew 12.3%, while Marine Cargo and Liability de-grew by 5.4% and 1.7% respectively.

Profitability Margins

Profit After Tax (PAT) grew 30.7% to INR 2,508 Cr in FY2025 from INR 1,919 Cr in FY2024. Return on Equity (RoE) improved to 17.5% in FY2025 from 16.0% in FY2024. Combined ratio improved to 102.8% in FY2025 from 103.3% in FY2024, indicating better underwriting efficiency.

EBITDA Margin

Core profitability is measured by the Combined Ratio, which stood at 102.8% in FY2025, a 50 bps improvement YoY. This ratio is significantly better than the industry average, which was over 12 percentage points higher in Q1 FY2026.

Credit Rating & Borrowing

Issuer Rating reaffirmed at [ICRA]AAA (Stable). The company has no outstanding sub-debt as of March 31, 2025, and maintains a strong solvency ratio of 2.69x, well above the regulatory requirement of 1.50x.

⚙️ Operational Drivers

Raw Materials

Not applicable for insurance services. Primary cost drivers are Net Claims Paid (INR 12,487 Cr maximum in recent years) and distribution commissions.

Key Suppliers

Key distribution partners include ICICI Bank (Promoter) and various brokers who contributed 51.9% of GDPI in FY2025.

Capacity Expansion

Current infrastructure includes 316 branches and 16,034 employees as of June 30, 2024. The company leverages ICICI Group's 6,983 branches and 16,285 ATMs for distribution.

Raw Material Costs

Claims and commissions are the primary operational costs. The company reported underwriting losses but offset them with investment income of INR 25.38 billion in H1 FY2026, up 12.7% YoY.

Manufacturing Efficiency

Underwriting efficiency is reflected in a Combined Ratio of 102.8% in FY2025, which is superior to the industry average, driven by prudent risk selection.

Logistics & Distribution

Distribution is diversified: Brokers (51.9%), Direct (17.4%), and Bancassurance (7.0%) in FY2025.

📈 Strategic Growth

Expected Growth Rate

17.80%

Growth Strategy

Growth is driven by a multi-channel distribution strategy across agency, broking, and bancassurance. The company is focusing on 'preferred lines' like Fire, which grew 27.3% in Q2 FY2026, and Engineering (12.3% growth in H1 FY2026) while maintaining pricing discipline despite high competition.

Products & Services

Insurance policies covering Motor, Health, Travel, Personal Accident, Fire, Engineering, Marine Cargo, Liability, and Crop/Weather.

Brand Portfolio

ICICI Lombard.

Market Expansion

Expansion is targeted through wider distribution in agency and bancassurance channels, particularly leveraging the ICICI Bank network.

Market Share & Ranking

Largest private general insurer in India with a 9.0% market share in FY2025, up from 8.9% in FY2024.

Strategic Alliances

Promoted by ICICI Bank Limited, which holds a 51.60% equity stake as of March 31, 2025.

🌍 External Factors

Industry Trends

The general insurance industry grew 7.3% in H1 FY2026. There is a notable shift toward Health and Personal Accident segments, which now account for 28.6% of ICICIGI's mix compared to 21.6% in FY2021.

Competitive Landscape

Faces high competition in commercial lines and motor segments from both public and private insurers.

Competitive Moat

Moat is built on the 'ICICI' brand name, parentage support from ICICI Bank, and scale as the largest private player. These advantages are sustainable due to the high capital requirements and regulatory barriers in the insurance sector.

Macro Economic Sensitivity

Sensitive to interest rate changes as investment income (INR 2,538 Cr in H1 FY2026) is a major contributor to RoE.

Consumer Behavior

Increasing demand for health and travel insurance products, with the segment's share of GDPI rising to 28.6% in FY2025.

⚖️ Regulatory & Governance

Industry Regulations

Regulated by IRDAI; must maintain a minimum solvency ratio of 1.50x (ICICIGI is at 2.69x). Health products are accounted for on a 1/n basis as mandated by IRDAI.