ICICI Lombard's Q3 profit takes a dip, but premiums and health insurance soar

Business Jan 13, 2026

ICICI Lombard's net profit dropped 9% this quarter to ₹658.76 crore, but that's not the whole story.
The company actually grew its net premiums by 17%, hitting nearly ₹6,000 crore, and saw a solid 14.8% bump in gross premiums too.

Retail health insurance is booming

The real highlight? ICICI Lombard's retail health segment shot up by almost 86%, which CEO Sanjeev Mantri credits to the GST exemption making these plans more affordable and increasing awareness.
Even with higher expenses and a dip in operating profit, the company's solvency remains strong—well above regulatory requirements.