• December 4, 2021

 PERFORMANCE FOR THE QUARTER ENDED JUNE 30, 2021 – ICICI Lombard General Insurance Company Limited.

·Gross Direct Premium Income (GDPI) of the Company stood at ₹ 37.33 billion in Q1 FY2022 compared to ₹ 33.02 billion in Q1 FY2021, a growth of 13.0%. This was in line with the industry growth.

·Combined ratio stood at 121.3% in Q1 FY2022 compared to 99.7% in Q1 FY2021 primarily driven by Covid-19 pandemic during the quarter. The Combined ratio includes Covid-19 impact on health book of ₹ 6.02 billion in Q1 FY2022 as against ₹

0.20 billion in Q1 FY2021 and ₹ 3.39 billion in FY2021.

·Profit before tax (PBT) stood at ₹ 2.02 billion in Q1 FY2022 from ₹ 5.31 billion in Q1 FY2021, registering de growth of 62.1%.

o Capital gains increased to ₹ 2.44 billion in Q1 FY2022 compared to ₹ 0.61 billion in Q1 FY2021.

·Consequently, Profit after tax (PAT) stood at ₹ 1.52 billion in Q1 FY2022 as compared to ₹ 3.98 billion in Q1 FY2021, registering de growth of 61.9%.

·Return on Average Equity (ROAE) was 8.1% in Q1 FY2022 compared to 25.1% in Q1 FY2021.

·Solvency ratio was 2.76x at June 30, 2021 as against 2.90x at March 31, 2021 and higher than the minimum regulatory requirement of 1.50x.

Operating Performance Review

 billion)

Financial Indicators

 

Q1 FY2022

 

Q1 FY2021

 

Growth %

 

FY2021

GDPI

37.33

33.02

13.0%

140.03

PBT

2.02

5.31

-62.1%

19.54

PAT

1.52

3.98

-61.9%

14.73

Ratios

Financial Indicators

Q1 FY2022

Q1 FY2021

FY2021

ROAE (%) – Annualised

8.1%

25.1%

21.7%

Combined ratio (%)*

121.3%

99.7%

99.8%

 Notes:

Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium

Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business

Return on Average Equity (ROAE) = Profit After Tax / ((Opening Net Worth + Closing Net Worth)/2)

Net Worth = Share Capital + Reserves & Surplus

About ICICI Lombard General Insurance Company Limited: We are one of the leading private sector non- life insurers in India. We offer our customers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. More details are available at

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