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India's largest private-sector general insurer, selling motor, health and property insurance via the ICICI banking network and direct channels.
India's largest private-sector general insurer, selling motor, health and property insurance via the ICICI banking network and direct channels.
Collects premiums, pays claims, and invests the premium pool until claims fall due, so profit depends on claims experience and investment returns. Sold through ICICI Bank branches, agents, brokers and online. Third-party motor premiums are set by the regulator, IRDAI, which limits pricing freedom in a large line.
In one line: India's Progressive/Allstate.
Moat: narrow (distribution, brand, scale). Bancassurance access via ICICI Bank plus scale as India's largest private non-life insurer.
Headquarters: Mumbai, India · Founded: 2000 · Employees: 16,447
Size ICICI Lombard General Insurance (ICICIGI.NS) is an India Financials company (Specialty Insurance) with a market value of $8.80B, the 137th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,649 on 6 Nov 2026.
Performance Over six months the shares fell 10.9%, against -3.7% for the median peer and 0.0% for the India market (cap-weighted) — 3rd lowest of 10 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +4.5%); the operating margin is 11.7% (peer median 16.1%).
Valuation It trades at 4.38× book value against a peer median of 1.11× (most expensive of 10).
Price implies The share price implies a return on equity of about 53.9%; ICICI Lombard General Insurance delivers 14.7%, so the price asks more than the business earns today.
Next results Next results expected around 19 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹291B | ₹270B | ₹240B | ₹206B | ₹189B |
| Revenue growth | — | +13% | +17% | +9% | — |
| Net income | ₹25.5B | ₹27.7B | ₹25.1B | ₹19.2B | ₹17.3B |
| Free cash flow | n/a | ₹23.8B | ₹9.16B | ₹22.2B | ₹21.7B |
| Capital expenditure | n/a | ₹2.43B | ₹2.31B | ₹1.90B | ₹1.21B |
| Total debt | ₹0 | ₹91.6M | ₹816M | ₹1.67B | ₹1.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| ICICI Lombard General Insurance ICICIGI.NS | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% |
| New India Assurance NIACL.NS | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% |
| Go Digit General Insurance GODIGIT.NS | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% |
| Star Health & Allied Insurance STARHEALTH.NS | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% |
| Niva Bupa Health Insurance NIVABUPA.NS | $1.49B | -5% | +58% | 14% | 3.66× | 33.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ICICIGI.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.7% | +5.3% | 4th lowest of 10 |
| 6-month return | -10.9% | -3.7% | 3rd lowest of 10 |
| Return on equity | 14.7% | 12.0% | 2nd highest of 10 |
| Price / book | 4.38× | 1.11× | most expensive of 10 |
| Trailing P/E | 32.4× | 9.4× | most expensive of 10 |
| ROE the price implies | 53.9% | 8.8% | most demanding of 10 |
| ROE delivered | 14.7% | 12.0% | 2nd highest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| Fidelity National Financial, Inc. - FNF FNF | United States | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% | 10.1% |
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
| Intact Financial IFC.TO | Canada | $34.7B | +9% | +2% | 14% | 2.48× | 8.7% | 14.4% |