ICICI Lombard's Q1 Review: Focus on Combined Ratio and Industry Outlook

Gopal Balachandran, Chief Financial Officer of ICICI Lombard, shed light on the general insurance industry's current landscape and the company's strategic positioning. Balachandran highlighted a challenging environment for the general insurance industry, noting an approximate combined ratio of 112%, which translates to a loss of 12-13% for every 100 rupees of premiums collected.