• Q2 performance: Net earned premium was ₹6,652 crore, up 17% year on year; gross premium grew 9.2% and profit approximately 15.5%.
• Combined ratio: While the reported ratio was around 107%, excluding catastrophe losses it was 102.7% in Q2, versus 102.6% in Q2 last year. Management said this showed the ratio had been largely maintained and reiterated its focus on profitable growth.
• Catastrophe claims: Net catastrophe claims were roughly ₹118 crore in Q2, compared with about ₹74 crore in Q2 last year. Management described these as quarter-specific monsoon impacts and business as usual for the insurer; it gave no specific details on reinsurance protection.
• Expense regulation: Management called the regulator’s draft consultation progressive and structurally positive. The proposed glide path is to bring expenses to 25% within the next 2 years and 20% within the next 5 years; ICICI Lombard said it operates within regulatory limits.