ICICI Lombard General Insurance Company Ltd

ICICI Lombard General Insurance Company Ltd has received an intimation from the Income Tax Department regarding the erroneous adjustment of a refund amount of ₹96,96,37,540 for AY 2025-26. This refund was adjusted against a demand arising from a reassessment order for AY 2015-16, despite previous favorable orders for the company. The company asserts that this adjustment was made without considering the favorable orders from the Commissioner of Income Tax (Appeals) and the Income-tax Appellate Tribunal. This situation arises from ongoing tax proceedings related to assessment years 2012-13, 2015-16, 2016-17, and 2017-18.

ICICI Lombard General Insurance has launched 25 customer-first innovative solutions across health, motor, home, travel, and commercial insurance as part of its Silver Jubilee celebrations. This launch surpasses their previous record of 14 new launches in a single day and includes 5 industry-first offerings. The innovations leverage technologies like AI to enhance the customer experience throughout the insurance lifecycle. Key new products include 'Elevate Her' for women's health, 'Paw Care' for pets, and 'Complete Home Protect' for homeowners. The company also introduced 'Digital Branch @Sidddhivinayak', India's first digital insurance branch in a metro transit environment, and 'Motor Service Assure', a time-assured roadside assistance service.

ICICI Lombard General Insurance Company Ltd announced that its Board of Directors, following a recommendation from the Audit Committee, has approved the Audited Financial Statements and Financial Results for the quarter ended June 30, 2026. The board also approved the extension of tenure for Mr. Vinod Mahajan, Chief Investment Officer, from May 1, 2027, to April 30, 2029, extending his service beyond his original retirement date. The meeting commenced at 3:40 p.m. and concluded at 5:50 p.m. The approved financial results and auditors' report have been submitted as required.

ICICI Lombard reported standalone Q1 FY27 (Jun-2026) PAT of ₹403.17 Cr, down 46.0% YoY from ₹747.08 Cr and 26.2% QoQ from ₹546.56 Cr, even as total income rose ~12% YoY to ₹6,813.71 Cr on net premium earned of ₹5,950 Cr (+15.8% YoY). Net margin compressed sharply to 5.9% from 12.3% a year ago. Basic EPS halved to ₹8.08 from ₹15.06. The print is weak on the bottom line despite healthy premium growth. The profit fall is only partly a one-off. The company booked a prudent, conservative ₹165 Cr claim reserve on its Motor Third-Party book following the Supreme Court's June 11 2026 ruling recognising the economic value of homemakers' unpaid work for MV Act compensation; the GI Council has filed a review petition (Jul 10). Adjusting that back post-tax (~₹124 Cr) lifts PAT to ~₹527 Cr — still roughly 29% below the year-ago base, so the deterioration is structural, not cosmetic. The combined ratio worsened to 102.7% (vs 102.0% YoY, 101.2% QoQ) and the incurred-claims ratio rose to 76.4% from 73.0%, while operating investment income slipped 9% YoY to ₹857.9 Cr — the three drivers of the squeeze. Segmentally, Motor underwriting loss widened to ₹245.2 Cr (from ₹106 Cr YoY, where the TP reserve sits) and Health Group/Corporate stayed loss-making at ₹301.7 Cr. Against management's own Q4-FY26 concall guidance — strong growth into early FY27 led by Motor and Retail Health, disciplined Motor loss ratio of 65-67% and Retail Health 65-70% — the topline held (premiums grew double-digit and Retail Health net premium earned jumped ~50% YoY to ₹677 Cr) but the profitability targets were missed, with the combined ratio above breakeven and Motor loss ratios stretched by the reserve. The prior-call warning on Commercial-lines pricing pressure appears borne out in the weaker underwriting result. No published Street PAT consensus for the quarter was found (results released today); analyst 12-month targets cluster near ₹2,200. Alongside results, the board extended CIO Vinod Mahajan's tenure to Apr-2029 and confirmed the ₹7/share FY26 final dividend (approved at the Jun-19 AGM).

ICICI Lombard General Insurance Company Ltd has received an Arbitration Award on July 13, 2026, ruling in favor of the insured, M/s. Roadway Solutions Narayanpur Roads Project Pvt. Limited. The dispute, involving six insurance policies from Bharti AXA General Insurance Company Limited (whose business was acquired by ICICI Lombard in September 2021), centered on the quantum of a claim. The aggregate claim amount was approximately ₹892.54 million. The Arbitral Tribunal has awarded the insured ₹776.73 million, plus 7.5% annual interest from the date of claim filing until payment. ICICI Lombard is currently evaluating its legal remedies.

ICICI Lombard General Insurance Company Ltd has announced that its trading window for dealing in securities will be closed for all designated persons and their immediate relatives. This closure is in effect from July 1, 2026, to July 17, 2026, inclusive. The reason for this closure is the upcoming board meeting scheduled for July 15, 2026, to consider and approve the audited financial results and statements for the quarter ending June 30, 2026. This measure is in compliance with SEBI's Prohibition of Insider Trading Regulations.

ICICI Lombard General Insurance Company Ltd has announced that its Board of Directors will convene on July 15, 2026, in Mumbai. The primary agenda item is to consider and approve the Audited Financial Results and Audited Financial Statements for the quarter ending June 30, 2026. Concurrently, the company has informed that the trading window for its designated persons and their immediate relatives will be closed from July 1, 2026, to July 17, 2026, inclusive, to prevent insider trading during the financial results announcement period.

ICICI Lombard General Insurance Company Ltd has received an order from the Additional Commissioner, State Tax (Appeal), confirming a GST demand of ₹10,35,666, along with interest of ₹8,87,282 and a penalty of ₹1,03,566. This order pertains to the period April 2019 to March 2020. The company had previously received a similar order from the Office of the Special Commissioner, Large Taxpayers’ Unit. ICICI Lombard intends to pursue further appeals or evaluate other legal options, including filing a writ petition, against this confirmed demand. The company states that the total demand, including interest and penalty, is already accounted for as a contingent liability, thus having no immediate financial impact.

ICICI Lombard General Insurance Company Ltd has issued a revised intimation regarding tax appeal orders from CESTAT, Mumbai. The company's appeals for Service Tax demands for FY2008-09 to FY2011-12, FY2013-14 & FY2014-15, and FY2011-12 have been allowed. Previously disclosed as contingent liabilities, the tax demands, along with interest and penalties, have been set aside. This revision clarifies that there are no financial implications, and the company has reduced its corresponding contingent liabilities. The company also corrected an inadvertent inclusion of penalty amounts in a previous disclosure (Sr. No. 9 of Annexure 2).

ICICI Lombard General Insurance Company Ltd has received favorable orders from the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai, confirming that its appeals have been allowed. These appeals pertained to demands totaling ₹1,095.68 Million for FY2008-09 to FY2011-12, FY2013-14 & FY2014-15, and ₹1,186.88 Million for FY2011-12, including penalties. The company had previously informed the stock exchanges about these appeals on January 12, 2026. The latest appeal order was received on June 9, 2026. This successful resolution of tax disputes is a significant positive development for the company, potentially impacting its financial position favorably by avoiding these substantial demands.