• Growth and ROE: The company aims to outperform industry growth by 100 to 200 basis points across all lines in FY27 while targeting a sustainable Return on Equity between 18% and 20%.
• Retail health momentum: Driven by new product launches and agency network expansion, retail health grew at twice the industry rate, boosting market share from 3.3% to 4.1% with an FY26 loss ratio of 64%.
• Motor and fire: After exercising caution during first-half price aggression, the company gained motor market share in H2 FY26 against deteriorating industry combined ratios of 128%, while maintaining a disciplined stance in fire due to heavy price competition.
• Underwriting and investments: ICICI Lombard sustained a 10-year average combined ratio of 102.9% versus the industry's 115%, alongside a 10-year average realized investment return of 8.7% despite fourth-quarter market volatility.