ICICI Lombard General: Performance Review for quarter ended March 31, 2022

fl/C/C/fJLombard

-GENERAL INSURANCE-

Ref. No.: MUM/SEC/06-04/2023

April 21, 2022

To,

The Manager	The Manager
Listing Department	Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza, 5th Floor, Plot C/1
Dalal Street	G Block, Bandra Kurla Complex,
Mumbai - 400 001	Mumbai - 400 051

Scrip code: Equity (BSE: 540716/ NSE: ICICIGI); Debt (NSE: ILGl29)

Dear Sir/Madam,

Subject: Outcome of the Board Meeting held on Thursday, April 21, 2022

Pursuant to Regulation 30, 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that the Board of Directors of the Company, at their Meeting held today i.e. Thursday, April 21, 2022, have approved inter-alia:

).- Audited Financial Results of the Company for the quarter and financial year ended

March 31, 2022. A copy of the Audited Financial Results for the quarter and financial year ended March 31, 2022 together with the Statutory Auditors' Report in the prescribed format is enclosed herewith. A copy of the press release being issued in this connection is also attached.

Please note that Chaturvedi & Co. and PKF Sridhar & Santhanam LLP, Joint Statutory Auditors of the Company, have issued audit reports with unmodified opinion.

).-

Recommended final dividend of~ 5.0 per equity share i.e. at the rate of 50.0% of face value of~ 10 each for the financial year ended March 31, 2022, subject to approval of the Members at the ensuing Annual General Meeting ("AGM") of the Company.

).-

The Board of Directors of the Company based on recommendation of the Board Nomination and Remuneration Committee of the Board, have approved grant of stock options upto 4.57 million to eligible employees including Whole-time Directors of the Company under the ICICI Lombard Employees Stock Option Scheme-2005. Each of the stock option entitles the holder to apply for one equity share of the Company of~ 10/-each. The following are the terms of the Options granted:

IRDA Reg. No. 115	CIN: L67200MH2000PLC129408
Mailing Address:	Registered Office:	Toll free No. : 1800 2666
401 & 402, 4th Floor, Interface 11 ,	ICICI Lombard House, 414, Veer Savarkar Marg,	Alternate No.: [phone] (Chargeable)
Near Siddhi Vinayak Temple, Prabhadevi,	Email:[e-mail]
New Linking Road, Malad (West),	Mumbai - 400 025	Website:www.icicilombard.com
Mumbai - 400 064

fl/CIC/ fJ Lombard

-GENERAL INSURANCE-

1. Grant Price: ~ 1363.10/- per share (closing price on the recognised stock exchange having higher trading volume on the trading date immediately prior to the date of meeting). Grant of Stock Options to Whole-time Directors is subject to approval of Members of the Company and Insurance Regulatory and Development Authority of India (IRDAI).

2. Vesting period: 3 years, in the ratio of 30%-30%-40% starting one year from the date of the grant of the stock options.

3.

Exercise period: 5 years from the date of vesting .

The Meeting of the Board of Directors of the Company commenced at 2:35 p.m. (IST) and concluded at 5:05 p.m. (IST).

The above information is being made available on the Company's websitewww.icicilombard.com .

You are ·requested to kindly take the same on your records.

Thanking you .

Yours faithfully, or ICICI Lombard General Insurance Company Limited

Vikas Mehra

Company Secretary

Encl. As above

IRDA Reg. No. 115	CIN: L67200MH2000PLC129408
Mailing Address:	Registered Office:	Toll free No.: 1800 2666
401 & 402, 4th Floor, Interface 11,	ICICI Lombard House, 414, Veer Savarkar Marg,	Alternate No.: [phone] (Chargeable)
Near Siddhi Vinayak Temple, Prabhadevi,	Email:[e-mail]
New Linking Road, Malad (West),	Mumbai - 400 025	Website: www .icicilombard.com
Mumbai - 400 064

ICICI Lombard General Insurance Company Limited

CIN: L67200MH2000PLC129408

Registered Office Address: ICICI Lombard House, 414, Veer Savarkar Marg,

Near Slddhlvlnayak Temple , Prabhadevl, Mumbal-400025 , Maharashtra

IRDAI Registration No. 115 dated August 3, 2001

[Pursuant to the Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations , 2015 read with IRDAI Circular reference :

IRDA/F&NCIR/LFTD/027/01/2017 dated 30.01 .2017]

Annexure-1

Statement of Audited Results for the Quarter and Year ended March 31, 2022 i' In lakhsl

SI. No.

OPERA TING RES UL TS

1 Gross Premiums wrlllen

Parllculars

March 31 2022

Audited

3 monihs ondod I As 111

December 31 2021

Audited

500 074

478 607

2 3 4

5

Nel Premium writlen Premium Earne<> ! Nell t n com~ from inveslmems to"tl Other income ta, IF ore tn n exchanne naln I tloSs lblllnvestmen l Income Imm oool ITerrONsm I Nuclear!

397 337 331 778 53 837

143

750

l o ll Con tnbullon from Sharoholdors Funds towards excoss EOM td UMis.cellaneaus Income

76.969 157

March 31 2021

Audited

355 987

365.511

276 479

331 188
53223	166 424
C32l	45
3147
43,574

11381

261 622 41 980

37

1.005

512

6 7 8

Total Income (3 to 5}

463 634

Commissions & Brokeraae lnetlNet commission 3

16009 16.009

9

Oc~ra U na Elr:oenses 1e1at.ed to Insurance buslness la+ hl; la Emolovees' rernuneraU on and welfare exoenses lb Other ooeraUna e'oenses Cl+ll+lll

I.

Advertlsemenl and oubli cllv

21 020

13 635

Undcrwrltlno profit/ CL055l f3·12t

23 941

12565

15

16

rn

12

13

14

11 19 1.521 lol l Chance in Outstandina Claims llncludlng IBNR/IBNER}

Provlslono for doubtful debts Clnclud lno bad debts written ottl Provisions ·for cUmfnutton in v41lue of investrnents

Ooeratlna ProflU(L ossl C6·12l

ti. S alos oromoU on

Iii. Olhel e•nMseo

Prem ium Deficiencv

Incurred Claims

(a) ] Clalms Paid

59. 139
208 323	6~5 52	762 94	553 165
22.028	20,939	215,276	133,916
270 ,751	1,433 ,59 1	1,020, 593
19 1291	(130.382)	119 1941
78188

130 8981

Total Expense (8+9+10+111

385 414

20 271 20.271

29072

M.084

51 232

22000 16 .527

19 747

47.407 362, 676

358.107

126 9191

100 956

27 307

.Aooroorl-t1tlons

30

t0.978 10.978

18632 737Q1

54 587

80 527

-

179 397

17

l-11 1 Transfer lo Profit and Loss AJG tbl!Transfer to Reserves

NON-OPERA TING RES UL TS

Income In !iharctiolders• acaoun1 Ca+b+CJ):

f;:tll Transfer from Policvholders' Fund

18

bl I Income from 10 ... es tm ents

100 Q56

CollO tl1er Income

ExC1e nses other than th ose related to insurance business

100 95a 16 421 77

2.7 307

27 30 7 16 282

217

77 48156 5 14

1 726

P rovisions lordoubtJul ~ebLS llntlud lno bad ctebts .wr111 en offl Provisions for dlm lnull¢n rn 11Jillue or l n V~ l ments

To t al Exoense 1 · 1~+20+21

Profll,1 floss) before extraordinary Items (18·22) Ex trnordlnarv Item s.

41 045

-

11821 1888 176 411

42 09445 011

Year ended I As at

March 31 2022

Audited

1 856 239

1 348 959

1 303 209 229 081

350 1

348 939

43574
1214	366	1 548
1 612 966	1216137
63 389	60.093
63,389	60,093

76 969

Q4 977

8 051

161 !!21

179 397

78168

78 .188
12 663	31~	50 463
1 221	295	1 238

179 397

70

46 285

66 177

52 166l

775

C231M287l

1 712

47 061

81 659

168.352

ProflV llosol before tax (23-24}

Provision for htx

41 045

9.794

168 352

195,395

42 094

45 011

in 341

10 443

Profit/ (Loss) alter tax (PAT)

31 251

31 753

Year ended I As atMarch 31 2021

Audited

1 432 033

1 068 498

1 001 399

19 972

120 517

195 544

195 544

195.544

2 027 16 6911

51 R50

195 395

41 .251

48 090

34 568

127 101

147 305

Dividend oor share m I Nominal Va luo f 10 oor share"

(all Interim Dividend lbllFlnal Dividend

4.00

4.00

Profit I Clossl carrie d to Balance Sfoe t Paid uo eauitv caoilal

622 946 49 089

31876

Rese""e & Surnt us: [E ,cdudrnn Re va tuAlion Re5erve1

591 695

4.00 4 ,00622 94 6

4 00

533 653

533 653

861

49 081	49089	45.459
830 061	698.0S5	86 1 878	698 055
37	33	33

45 459

33	35
25
891

66 051	68 051
500	48 ~00	48 500

Q30

6372-7 25 500

25.500

35.930

743 066 2 345 650

(2 229 120)

2.40

2,90

72.0%

79 .5% 764%

103.2%

3 1.5%

69.6%

104.5%

68.6% 77.7%74,6%

71 .7%

101 .8%

Basic : t 6.47

Diluted: t 6.44

Bas ic: '7.61 '25.91

Dituled: ' 7.57

Basic: '6.37

Basic:

'6.47

Basic: '7.61

Diluted : f 7 .57

30.0% 2a.1•.-

7.5. 1%

72.7%

106.11%

99.8%

Basic:

Bas ic:

n141

Diiuted: '25.82

Diluted: ' 32 .27

Ba sic:

'25.91

Basic:

'32.41

Dfl.uled : '25.62

Diluted: '32.27

1.87%

0.41'k

1.80%

b) Perce n.taae of shareholdino cl% o! Government holdlna

n xl

Public sharetmldln a et) No, of share~

51.a6%

1,92%

8.45% 7.85%

255 047 622

In case of oublic sector insurance co..rnoanies'

0 .32%	12..2 1%
254 968 672	2 18 750 69A	255 047 622	21 '8 750 696
51. 95%	4812%	51 ~ 96%	48 .12%

0 .16%5.77%

Footnotes:

• 1 Net of reinsurance (Including Excess of Loss Reinsurance)_

• 2 Including cap ital ga ins, net of amortlsallon and losses.

• 3 Commission is net of commission received on reinsurance cession .

• 4 Analytical ratios have been calculated as per definition given in IRDAI analytical raUos disclosures,

• 4a The Solvency has been co mputed at the last day of the period ,

4b 5

The Expenses of Management has been computed on the basis of Gross Direct Premium Nol annualised

• 6 Excludes unrealised gains or losses on real estate and unlisted equity

• 7 Yield on investments with unrealised gains is computed using the modified Dietz melhod

• 8 The computation is based on time weighted average book value.

  Dividend is recognised in the period it is approved as prescribed by MCA

Annexure-11

[Pursuant to the Regulation 33 and 52 of SEBI (listing Obligations and Disclosure Requirement s) Regulall ons, 2015 read with IRDAI Circular reference :

IRDA/F&A/CIR/LFTD/027/01/2017 dated 30.01.2017]

Segment1 Reporting for the Quarter and Year ended March 31, 2022

Cf i n lakhsl

SI . No.

Particulars

1

Scomont Income: ICA Fire

3 months ended I As at

Income from InvestmentsOther Income lfiil Health Government B~sl n ess

Marc h 31 , 2022

December 31 , 2021

Net Premium Eamed Income from In vestments Other Income

I/ Bi Marine

Net Premium Earned

In come from Investment< Other Income

IICI H~e l th lncludlna Personal Acclden 1·

(I) Hea lth Retail

Net Premium Earned Income from Investments Ot11er Income ml Heallh Grouo. Coro.0<>

Nat Premi um Earned

Net Premium Earn ed Income lrom lnvestm ontG Olher In come ml Miscell aneous

Ill Miscell aneous Reta il

Audited

Net Premium Eamed Income from In vestments Other Income

69992

21.38 1

11 630

18 .549, 625

10 365 590 15

5272 220

2 079

1 496

40 (55!

666

Audited

63904 4149 1211

21 231 1 806

IB 456

1520

9 597 641 17

2 100

847

39

51

.

1

March 31, 2021

Aud ited

46 503

18 905

12 597

5 126

1 430

3247 203

1 616

7.287 454 51

2634

455

23 70

Year ended f As at

Yea r ended I As at
March 31, 2021
Audited
67 447	48134
8 773	5 426
2 793	2 574
37 680	26 015
2 936	2023
44	55
83772	73027
8,808	7 295
5149
183 058
15 061
129
74
251
.
5 634

March 31 , 2022

Aud i ted

11 643

251 338

21 284 334

399 86

5 882

I ii! Miscellaneous Grouo. Coroorate

Net Premium Ea rned

Income from Investments Other Income

IFl Cron Insura nce

Ne t Premium Earned Income from Investments

16 472

2 016 t29l

566 1121

704

15624 2 268

6586 12191

754

14 6

1 2 750

1674

725 271

201

8

3	287
1
59	627
9	388	6 691
284	987
11	75 1	745

3 009

272

47 525

Olher Income IFl Motor

Net Premium Earned

192 917

111

194 219

.

162 11 9

654 1

785 313

13491	2	78 1
3	1
617	187

Income from Investments Other In com e

41618

41 -684

30906

174 866 65 596

123 887

65 518

13

39029

39 305

2

Premium Deficiency CAI Fire

Bl Mari ne

IC I Hea lth lnciudina Persona l Accident•

Cll Hea lth Retail

Clll Health Grouo. Coroorete

Clltl Health Govcmrnent Bu siness ID Miscellaneous mMisce ll aneous Retail

Iii Mlsoell aneous Grouo. .Coroorate

IE Croc Insurance

CF Mntor

3

Seamcnt Underwr l""" Profit/ ILossl:

.

.

- -

14 437 307

9099 266

12 209 11 0181

29 25413 749

15 755 13066

163

31

(5 4181 14g951 1 317

Ill Miscellaneous Retail

11 2491

I 549

5823048

1 7·34

3 568

IFl Motor

!Ill MiscelJ8Jeous Grouo. Coroorate fE l Cron Insurance

141 8331

4 923 1 424

138 809

2 243 817

23 120 78 71

1 739 1859381

6 700

7 002 1270 (33 087

l~ in lakhs)

3 months ended I As at

March 31, 2022

December 31, 2021

Year ended I As atYear ended I As atMarch 31 2021

March 31 2022

March 31 2021

Audited

Audited

Audited

4

Seoment Ooeratlno Profit/ fLossl: Al Fire

Bl Marine

I(Cl Health includinq Personal Accident*

m Health Re tail

llil Health Grouo Cornorate

(iiil Health Governmenl Busir>ess liDI Miscellaneous

(i) Miscellaneous Retail

(iii Miscellaneous Grouo. Comorate

I(El Crop Insurance llF Motor

5

Seamen! Technical Liabilities: Unexpired Risk Reserve .. Net ICAI Fire

8 639

1 270

379 (544

6 911

I/ Bl Marine llC Health inc!udi na Persona! Accide ot•

(i Health Relail

(ii) Health Grouo Coroora le

(iii Health Government Business

l

tD Miscella neous

(i) Miscellaneous Retail

(iil Miscellaneous Grouo. Coroorate

IIEl Cron Insurance llf Mclor

Outstanding Claims Reserves Including IBNR & JBNER - Gross

Al fire

Bl Marine ll Cl Health includino Personal Accident*Iii Health Retailn; i Health Grouo Comorate

(iii) Health Government Business ICDl Miscellaneous

Iii Mis cellaneous Re tail

(ii) Miscellaneous Grouo. Coroorate

ICEI Cro n Insurance llFI Motor

16 728

12 045

912

15 299

923 12 0301

1513

5 863

5 719

2032 303

4 657

1 109718

100

4 924 677

1.578

1 411

598

65 252

2 889

49151

45 272 8 595

48 518 10.735

~? 549 6 572

65 781

59 878

59 422

165 254

Audited

Audited

40 819 17691

111 156'

127 528!

5 023 16 373

1 393

154 524

45 2728 595

65 781

59

148 509

122 765

97

15

• 29 538

  29 960

  30 902

  285 245

  30.333
  538	368 356	446	538
  223 987	285	245

  323 32,1

  165 254 59

  • 29 538

• 39 261

39 352

684

446

97 826

30 552

103 399 5,556

1 643864

397 004

104 882

• 39 261

-

80 941

97 826

31 960

32 195

30 552

98 636

88 .604

103 399

5 51;6	7,809
4 975	3 794
197 588	148 936	197.588	148 936
4~ %2	128 515	43 952
1 198 232	1 643 864	1 198 232

11 301

7 8 09

4 975

4113 195 981

3 794

128 515

132 000 1597004

Footnote:

• 1 Segments include: (A) Fire, (B) Marine, (C) Health including Personal Accident - (i) Health Retail, (ii) Health Group, and (iii) Health Government Schemes, (D) Miscellaneous - (i) Retail, (ii) Group I Corporate, (E) Crop Insurance, (F) Motor

• 2 *includes Travel Insurance

~uf.1..VEo1

- v~ · J '

23 755

(989)

7 025

10 036

1 568

6 848 14,681

2 512

130 108

32 ,549 6 572

59 422

122 765 15

30 902 30.333

368 356

223 987 80.941

32 195

88 604

~IL : ~

~1~

( .

1 ' Fl..