Key Decisions and Quantitative Figures

The Board of Directors, based on the Audit Committee's recommendation, approved the following at their meeting held on October 14, 2026:

1. Audited Financial Statements: Approved the Audited Financial Statements for the half-year ended September 30, 2026.

2. Audited Financial Results: Approved the Audited Financial Results for the quarter and half-year ended September 30, 2026. A copy of the results and the Joint Statutory Auditors' Report was enclosed with the filing.

3. Interim Dividend: Approved the declaration and payment of an interim dividend of ₹7 per equity share (70% of face value of ₹10 each) for FY27.

Dividend Details

  • Record Date: Friday, October 23, 2026
  • Payment Date: On or before Thursday, November 12, 2026, subject to TDS.

Meeting Details

The Board Meeting commenced at 3:50 PM and concluded at 6:30 PM.

Financial Results Highlights (₹ in lakhs)

For the Quarter Ended September 30, 2026 (Audited):

  • Gross Premiums Written: 770,209
  • Net Premium Written: 621,366
  • Premium Earned (Net): 665,187
  • Total Income: 784,372
  • Profit Before Tax: 124,741
  • Provision for Tax: 30,101
  • Profit After Tax (PAT): 94,640
  • Basic & Diluted EPS (₹): 18.95 / 18.85

For the Half-Year Ended September 30, 2026 (Audited):

  • Gross Premiums Written: 1,656,236
  • Net Premium Written: 1,281,739
  • Premium Earned (Net): 1,260,191
  • Total Income: 1,465,743
  • Profit Before Tax: 178,311
  • Provision for Tax: 43,354
  • Profit After Tax (PAT): 134,957
  • Basic & Diluted EPS (₹): 27.04 / 26.88

Balance Sheet Position as at September 30, 2026 (Audited):

  • Paid-up Equity Capital: 49,961
  • Reserve & Surplus: 1,746,670
  • Investments - Shareholders' Fund: 1,695,317
  • Investments - Policyholders' Fund: 4,737,851
  • Total Assets: 6,834,409

Analytical Ratios

  • Solvency Ratio: 2.75 (as of Sept 30, 2026)
  • Expenses of Management Ratio: 36.3% (Q2), 32.2% (H1)
  • Incurred Claim Ratio: 72.7% (Q2), 74.5% (H1)
  • Net Retention Ratio: 80.7% (Q2), 77.4% (H1)
  • Combined Ratio: 107.0% (Q2), 107.0% (H1)

Segment-wise Performance (H1 FY27 Operating Profit/(Loss) in ₹ lakhs)

  • Fire: 15,387
  • Marine: (1,049)
  • Health Retail: 1,702
  • Health Group, Corporate: (30,944)
  • Health Govt. Business: 67
  • Misc. Retail: 2,351
  • Misc. Group, Corporate: 10,394
  • Crop Insurance: 3,715
  • Motor: 109,103

Other Material Disclosures

1. Share Allotment: The company allotted 342,632 equity shares in Q2 and 1,119,804 in H1 FY27 pursuant to employee stock option/unit exercises.

2. Accounting Framework: The company has an exemption from adopting Ind AS until March 31, 2027, and will continue with the existing accounting framework for FY27.

3. Supreme Court Ruling Impact: A prudent claim reserve of ₹16,940 lakhs (including ₹16,500 lakhs for previous quarters) was recognized for the Motor TP portfolio following a Supreme Court judgment on compensating homemakers' unpaid work.

4. Auditors: The results were audited by joint statutory auditors B S R & Co. LLP and Walker Chandiok & Co LLP, who issued an unmodified opinion.

5. Public Disclosure: The financial results will be published on the company's website by October 29, 2026, as per IRDAI guidelines.

Capital Structure Impact

The allotment of shares for ESOPs has marginally increased the paid-up capital. The dividend declaration will result in a cash outflow to shareholders.