• Combined ratio performance: Excluding a 2.8% impact from the Supreme Court judgment and a 1% impact from two large fire losses, the normalized combined ratio stood at 102.3%, compared to 102.2% in Q1 of the previous year.
• Reserve strengthening: The company made a ₹165 crore reserve provision following the Supreme Court's June ruling on the motor third-party portfolio, maintaining a conservative approach backed by historical reserve adequacy.
• Fire loss ratio: Two large fire claims pushed the segment's loss ratio to nearly 118% against long-term historical averages of 65% to 70%, though management affirmed there are no fundamental issues with its risk selection standards.
• Fire segment momentum: Fire business showed improving trends in June as ICICI Lombard's degrowth eased to 18% against an industry degrowth of 22%, outperforming the market compared to the overall Q1 degrowth of 32%.
• Corporate risk management: The company continues to deploy its value-added services framework to help commercial clients minimize risk events, which has supported high corporate retention rates.