- ICICI Lombard shares fell nearly 15% after Q1 net profit dropped 46% year-on-year
- Shares hit a two-year low and marked biggest intraday fall in over six years
- Net Premium Earned rose 16% to Rs 5,950 crore in Q1 FY27 compared to last year
Shares of ICICI Lombard General Insurance Company tumbled nearly 15% after the opening bell on Thursday, July 16 as the insurance firm's net profit fell 46% in the first quarter of fiscal 2027.
The latest fall marks the biggest intraday fall in over six years as the shares hit two-year low mark following a weak quarter.
ICICI Lombard General Insurance shares tanked as much as 14.88% to trade at Rs 1,544.6 apiece . The scrip was trading 13.7% lower by 9:43 am, while the benchmark index was up 0.12%.
In Q1FY27, ICICI Lombard's net Premium Earned was 16% (Year-On-Year) higher at Rs 5,950 crore compared to the previous fiscal's Rs 5,136 crore.
The firm's solvency ratio was at 2.71x as at June 30, 2026 compared to 2.67x as of March 2026 which was higher than the minimum regulatory requirement of 1.50x.
Gross Direct Premium Income (GDPI) increased 7.5% year-on-year to Rs 8,318 crore in the June quarter from Rs 7,735 crore a year earlier. However, the growth lagged the general insurance industry's expansion of 10.9% during the same period.
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