ICICI Lombard Q3 Net Profit Dips 9% Amid Rising Costs & Claims

• ICICI Lombard's net profit declined by 9% year-on-year to Rs 659 crore in Q3 FY26.
• Higher operating costs and increased claims impacted profitability, despite healthy premium growth.
• Gross direct premium income (GDPI) grew 13% to Rs 7,041 crore, driven by motor and health segments.
• Underwriting performance weakened, with the combined ratio deteriorating to 104.5%.
• An incremental gratuity expense of Rs 53 crore also adversely affected profitability.

Why It Matters: ICICI Lombard's Q3 profit fell due to higher claims and expenses, despite strong premium growth.