ICICI Lombard

Q2 FY27Insurance

ICICI Lombard Q2 FY27 earnings call: Revenue & Margins

Q2 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹1,680

Market cap₹83.9K Cr

P/E32.9

Updated19 Oct 2026

Read4 min read

What the Q2 FY27 call signalled

0 of 2 strong

RevenueModerate growth

MarginMargins steady

The short version

Motor segment is expected to see strong growth in Q3 and Q4 FY2027, driven by robust vehicle sales and festive season demand. The company expects continued strong growth in earned premium, driven by segments like Motor, Health, and Commercial Lines.

From ICICI Lombard's Q2 FY27 earnings-call transcript · updated 19 Oct 2026.

Revenue & Sales Performance

Moderate growth

Motor segment is expected to see strong growth in Q3 and Q4 FY2027, driven by robust vehicle sales and festive season demand. The company maintains market leadership with continued momentum from improved retention and volume growth (Page 6, 22, 30).
Health insurance continues its rapid expansion, notably Retail Health with a 66.4% growth in H1 FY2027, outpacing industry growth, indicating sustained future growth potential (Page 6).
Commercial lines have shown improvement with positive momentum expected in H2 FY2027 due to a more disciplined market environment (Page 20, 26).
The company anticipates maintaining earned premium growth above industry average (13.9% vs. 13.2%) into Q3 and Q4 FY2027 (Page 26).

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Profitability & Margins

The company expects continued strong growth in earned premium, driven by segments like Motor, Health, and Commercial Lines.
Motor insurance growth is positive with increased vehicle sales and rising EV penetration; the company outperformed the industry growth at 13.9% vs 13.2% in Q2 FY2027.
Health insurance remains the fastest-growing segment, with Retail Health growing 32% and Group Health 15.3% in H1 FY2027.
Expense of management (EOM) is expected to reduce due to proposed regulatory changes (from 30% to 25%), improving profitability and addressing industry-wide inefficiencies.
Improved retention rates (3%-5% increase) on retail lines aid sustainable earnings growth.
The company maintains disciplined underwriting and cost management, expecting combined ratios to stabilize (Motor expected loss ratio 65%-67%).

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Capital Expenditure Plans

The provided pages of the ICICI Lombard General Insurance report do not explicitly mention any current or future capex, capital investments, or strategic investment plans. The focus is largely on financial performance, underwriting, loss ratios, regulatory developments, distribution reforms, technology adoption (such as digital platforms and AI bots), and operational metrics. Key highlights include: - Continued investment in technology and innovation (e.g., IL TakeCare app with 23.3 million downloads). - Emphasis on scaling digital sourcing from 6% to 15%.

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Top-ranked in Insurance

Ranked on what management guided this quarter

Guidance-ranked

1Max Financial Services Ltd₹44.7K Cr

Rev 2Mar 3

2Niva Bupa Health Insurance Company Ltd₹14.0K Cr

Rev 2Mar 3

3₹2.3K Cr

Rev 2Mar 3

4₹1.2L Cr

Rev 3Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The provided pages do not mention any current or planned fundraising through debt or equity by ICICI Lombard General Insurance Company Limited.
There is no disclosure or discussion around raising capital via equity issuance or debt instruments in the excerpts.
The focus in the discussions is primarily on operational performance, regulatory environment, expense management, product offerings, and market conditions.
The company maintains a healthy solvency ratio (2.74x as of September 30, 2026) well above regulatory requirements, suggesting no immediate capital raising need.

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Order Book & Pipeline

The provided pages from the ICICI Lombard Q2 FY2027 earnings call transcript and presentation do not contain any information regarding the company's current or expected order book or pending orders. The discussion primarily centers around: - Motor insurance combined ratios and profitability. - Impact of regulatory changes, such as commission caps and Supreme Court judgments. - Product distribution strategies and digital initiatives.

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ICICI Lombard — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Q2 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q2 FY27 numbers from the filing are in the analysis on this page.

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹6.8K Cr, net profit ₹547 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What ICICI Lombard's management said in earlier quarters

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HDFC Life Insur. (Q2 FY27)
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Canara HSBC (Q2 FY27)
Individual Weighted Premium Income (WPI) for Q2 FY27: ₹6,469 million, up from ₹5,138 million in Q2 FY26 (approx. Key investor presentation takeaways from Canara

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Frequently Asked Questions

What were ICICI Lombard Q2 FY27 results?

What is ICICI Lombard share price analysis?

ICICI Lombard currently shows a below-average growth signal. The stock trades at a P/E of 32.9 with a market cap of ₹83,946 Cr. Investors should review the full earnings analysis for detailed insights.

Is ICICI Lombard planning capital expenditure?

The provided pages of the ICICI Lombard General Insurance report do not explicitly mention any current or future capex, capital investments, or strategic investment plans.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

What the Q2 FY27 call signalled

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Top-ranked in Insurance

Fundraising & Capital Structure

Order Book & Pipeline

ICICI Lombard — Quarterly revenue & net profit

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What ICICI Lombard's management said in earlier quarters

Others in Insurance this season

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Frequently Asked Questions

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