ICICI Lombard General Insurance buys 0.19% stake in HDFC Life Insurance Company for ₹233 crore
HDFC Life Insurance, a prominent player in the insurance sector, has no related party links with ICICI Lombard in this acquisition. ICICI Lombard clarified that its promoter and promoter group entities may have existing business transactions with HDFC Life on an arm’s length basis.
HDFC Life Insurance Company Ltd is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection,
Pension, Savings, Investment, Annuity and Health.
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ICICI Lombard General Insurance Company posted a 20.2% increase in its net profit for Q2 FY25, reaching ₹694 crore, compared to ₹577 crore in the corresponding quarter of the previous fiscal year.
The profit growth was supported by a 10.4% increase in Gross Direct Premium Income (GDPI), which stood at ₹6,721 crore, outperforming the industry’s modest growth of 2.0% during the same period.
For the first half of FY25 (H1 FY25), the company’s GDPI rose to ₹14,409 crore, marking a 15.5% growth over ₹12,472 crore in H1 FY24. Excluding crop and mass health segments, the GDPI growth was 15.0%, significantly higher than the industry growth rate of 10.9%.
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The company’s combined ratio—a measure of profitability—was recorded at 104.5% for Q2 FY25, slightly higher than 103.9% in Q2 FY24, reflecting higher claims and expenses.
However, when excluding the impact of catastrophic (CAT) losses amounting to ₹94 crore in Q2 FY25, the combined ratio stood at 102.6%, an improvement compared to 102.8% the year before.
Shares of ICICI Lombard General Insurance Company Ltd ended at ₹1,837.50, up by ₹31.75, or 1.76% on the BSE.
