Desk note · industry · Insurance
ICICI Lombard General Insurance reported net profit of ₹946.40 crore for the quarter ended 30 September 2026, up 15.5% year on year, while its underwriting loss widened to ₹318 crore and the combined ratio reached 107% as motor and health claims ran hot.
On 14 October 2026, ICICI Lombard General Insurance Company published results for the second quarter of fiscal 2026–27. Net profit increased 15.48% year on year to ₹946.40 crore, helped by growth in net premium written of roughly 17%. At the same time, the insurer’s underwriting loss, the gap between premiums collected and claims plus expenses on insurance contracts, widened 78.9% to ₹318.38 crore. Its combined ratio, a standard measure of underwriting profitability, rose to 107% from 105.1% in the year-ago quarter. A ratio above 100% means the core insurance book lost money before investment income.
General insurers earn on two legs: underwriting discipline and returns on the float they invest. ICICI Lombard’s profit growth shows the investment and fee side still offset higher claims in motor and health lines, where repair costs and hospital bills have inflated. When combined ratios drift above 100% for several quarters, companies typically seek premium hikes or tighter risk selection. For car and health policyholders, that can mean higher renewals or more scrutiny on claims documentation.
If your motor or health policy renews this quarter, compare quotes from at least two insurers and check no-claim bonus rules before switching. If you own insurance stocks, track whether peers such as HDFC ERGO and Bajaj Allianz show similar combined ratio pressure or defend margins with price increases. Watch IRDAI filings on approved rate revisions for motor third-party pools and whether monsoon-related crop claims spill into reinsurance costs later in the year.
Trade policy / exports
Commerce minister Piyush Goyal said on 22 October 2026 that India’s proposed free-trade agreement with the European Union could become operational within four to five months after signing, with the deal expected to be inked before year-end during his visit to Germany.
Food delivery / quick commerce
Swiggy reported on 22 October 2026 that September-quarter revenue rose 36% to about ₹7,571 crore and the consolidated net loss narrowed to ₹922 crore, as food delivery posted record adjusted core profit of about ₹349 crore while quick-commerce Instamart lost about ₹764 crore at the segment level amid heavier discounting and 69 new dark stores.
Quick-service restaurants / consumers
KFC and Pizza Hut operator Sapphire Foods India said on 22 October 2026 that September-quarter consolidated restaurant sales rose 20% year on year to about ₹885 crore, with KFC India same-store sales up 14% and adjusted EBITDA margin expanding 100 basis points to 7.1% even as the listed stock remained far below its 52-week high.
RBI / government borrowing
On 22 October 2026, the Reserve Bank of India accepted no bids at the scheduled sale of short-dated government treasury bills, the first full cancellation in about seven months, as investors demanded higher yields amid a bond selloff, oil-linked inflation fears, and expectations of more rate hikes after October’s policy minutes.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.