#1ICICI Lombard Nibhaye Vaade H12023 Performance Review#2Agenda • Company Strategy • Financial Performance ESG Initiatives Industry Overview i ICICI Lombard Nibhaye Vaade#3Agenda • Company Strategy Financial Performance ESG Initiatives Industry Overview i ICICI Lombard Nibhaye Vaade#4ICICI Lombard General Insurance - Pillars of Strength Consistent Market Leadership and growth • Leading private sector • non-life insurer in India since FY2004 (GDPI basis) 14 years GDPI CAGR (FY2008 - FY2022) for IL: 12.9% • Market share H12023 (GDPI basis): 8.4% . Diverse products and multi-channel distribution Comprehensive and diverse product portfolio • Individual Agents* 1,00,636 Expanding distribution network to increase penetration in Tier 3 and Tier 4 cities • Number of Virtual Offices: 908 Excellence in Customer service and Technology • Leveraging on Artificial Intelligence, Machine Learning, loT etc. throughout the customer life cycle Dedicated "digital arm" to improve speed of delivery for D2C business • • Risk Management Profitable growth using risk selection and data analytics Maintain robust reserves • Prudent investment management • Capital Conservation • Maintain high level of Solvency ratio as against regulatory minimum requirement of 1.50x Solvency ratio 2.47x as at September 30, 2022 ICICI Lombard Nibhaye Vaade *including POS IoT - Internet of Things 4#5Key Highlights Particulars FY2021 FY2022 H12022 H12023 (billion) Actual Actual Actual Actual Gross Written Premium 143.20 185.62 87.76 108.32 Gross Direct Premium Income (GDPI) 140.03 GDPI Growth 5.2% Combined Ratio Profit after Tax Return on Average Equity Solvency Ratio Book Value per Share 25.91 179.77 86.13 105.55 28.4% 32.7% 22.6% 99.8% 108.8% 114.3% 104.6% 14.73 12.71 6.41 9.40* 21.7% 14.7% 15.2% 19.9%** 2.90x 2.46x 2.49x 2.47x 163.56 185.57 176.32 199.99 32.41 # 13.07 19.14 Basic Earnings per Share ICICI Lombard Nibhaye Vaade *PAT includes reversal of tax provision of 1.28 billion #Excluding reversal of tax provision, ROAE for H12023 was 17.3% Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 5 LO#6Comprehensive Product Portfolio Product Mix 9% 9% 10% 10% 0% 3% 4% ■ Others 3% 7% 8% 16% 4% 4% 16% ■ Crop 19% 16% ■ Marine 22% 22% 23% ■ Fire 27% 24% ■Health, Travel & PA 23% 18% 18% ■ Motor TP 26% 23% 19% ■ Motor OD 17% FY2021 FY2022 H12022 H12023 Diversified product mix- motor, health, travel & personal accident, fire, marine, crop and others ICICI Lombard Nibhaye Vaade Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 6#7Comprehensive Product Portfolio - Motor Motor GDPI Mix * billion 65.8% 70.9% 68.4% 72.0% 70.20 82.80 32.46 37.09 Type H12022 H12023 Private car 56.5% 49.6% Motor 42.12 33.35 36.85 40.68 15.82 19.39 16.64 17.70 Two Wheeler 26.5% 27.0% FY2021 FY2022 H12022 H12023 Commercial Vehicle 17.0% 23.4% Loss Ratio Motor Total ■OD GDPI ■TP GDPI • Loss cost driven micro-segmentation • Revision in base premium for Motor TP w.e.f. June 1, 2022 • Advance premium at September 30, 2022 34.34 billion (33.68 billion at March 31, 2022) ICICI Lombard Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable Nibhaye Vaade 7#8Comprehensive Product Portfolio - Health, Travel & PA billion Health, Travel & PA GDPI Mix Type H12022 H12023 Individual 21.6% 18.1% Group - Others 19.1% 26.4% Group Employer-Employee 59.1% 55.4% Mass 0.2% 0.1% Health, Travel & PA 78.0% 91.7% 109.3% 77.9% 40.07 30.21 28.34 20.15 FY2021 FY2022 H12022 H12023 Loss Ratio • Investments made towards accelerating growth in areas of health distribution- • Retail health agency vertical grew by 30.7% for Q22023 • IL Take Care for customer engagement & servicing of health, motor and travel customers • More than 2.7 Mn user downloads till date (1.0 Mn user downloads in Q22023) AICICI Lombard Nibhaye Vaade Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 8#9Comprehensive Product Portfolio - P&C • Market share in commercial lines Property & Casualty (P&C) Market Share Product Fire Engineering Marine Cargo Liability H12022 H12023 13.2% 12.8% 15.7% 15.1% 18.4% 18.6% 17.5% 15.4% Property & Casualty Crop • Crop constitutes 7.6% of the product mix for H12023 • Covered farmers in 2 states and 10 districts in Kharif season in H12023 Crop billion 63.2% 59.4% 72.8% 59.6% 50.24 39.29 32.13 27.69 FY2021 FY2022 H12022 H12023 Loss Ratio 111.2% 107.9% 125.2% 84.3% 7.99 6.66 5.83 0.33 • Won 2 clusters in Maharashtra comprising of 7 districts • Conservative reserving philosophy FY2021 FY2022 H12022 H12023 Loss Ratio ICICI Lombard Nibhaye Vaade Source: IRDAI & GI Council Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 9#10Digital Opportunities Policy Issuance 12.8 Mn Policies sourced 96.8% policies issued electronically in H12023 (97.3% in FY2022) 0 12 Cloud Adoption First large insurer to move all core applications to the Cloud Improved agility, increased reliability and continuous innovation Claims & Servicing 1.3 Mn Claims honored 79.9% Motor OD Claims through Instaspect in September 2022 (84.5% in March 2022) Claims NPS of 59 in Q12023 (56 in Q42022) ICICI Lombard Nibhaye Vaade Dynamic Workforce 14.0% Headcount productivity CAGR (FY2008 to FY2022) End-to-end digital enablement for hybrid and part-time working Al & ML Solutions 61.2% of group cashless claims approved through Al in September 2022 (59.3% in March 2022) 82.9% STP of motor break-in from Self Inspection app in September 2022 (84.6% in March 2022) 10#11Risk Management Underwriting • Predictive ultimate loss model to improve risk selection Diversified exposure across geographies and products Historically lower proportion of losses from catastrophic events than overall market share Reinsurance Spread of risk across panel of quality re-insurers Conservative level of catastrophe (CAT) protection 26 -> Investments Tighter internal exposure norms as against regulatory limits Invest high proportion of Debt portfolio 93.0% in sovereign or AAA rated securities* • All Debt securities are rated AA & above Zero instance of default on the IL's debt portfolio since inception ICICI Lombard Nibhaye Vaade * domestic credit rating Reserving IBNR utilization improving trend indicates robustness of reserves First Company in Industry to disclose reserving triangles in Annual report since FY2016 27 11#12Agenda • Company Strategy • • Financial Performance ESG Initiatives Industry Overview i ICICI Lombard Nibhaye Vaade#13Financial performance Combined ratio (%) 99.8% 108.8% 105.3% 105.1% 114.3% Return on average Equity (ROAE) (%) 24.5% 21.7% 21.0% 104.6% 14.7% billion 19.9% 15.2% # FY2021 FY2022 Q22022 Q22023 H12022 H12023 FY2021 FY2022 Q22022 Q22023 H12022 H12023# Profit before Tax (PBT) 19.54 16.84 FY2021 FY2022 10.75 8.52 5.94 6.10 Q22022 Q22023 H12022 H12023 Profit after Tax (PAT) 14.73 12.71 9.40 5.91 6.41 4.47 FY2021 FY2022 Q22022 Q22023* H12022 H12023* *PAT includes reversal of tax provision of 1.28 billion #Excluding reversal of tax provision, ROAE for Q2 and H12023 was 19.3% and 17.3% respectively ICICI Lombard Nibhaye Vaade Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 13#14Robust Investment Performance Realised Return (%) 8.45% 7.85% Investment Book billion Investment Leverage² 4.09x 4.23x 4.27x 4.08x 387.86 400.96 371.95 308.92 4.46% 3.52% 1.96% 1.83% FY2021 FY2022 Q22022 Q22023 H12022 H12023 FY2021 FY2022 • Investment portfolio mix³ for H12023: Corporate bonds 33.7%, G-Sec 48.3% and equity 12.0% • Strong investment leverage • Unrealised gain of 0.40 billion as on September 30, 2022 • Unrealised gain on equity4 portfolio at 5.11 billion • Unrealised loss on other than equity portfolio at 4.71 billion 1 Absolute Returns 2 Total investment assets (net of borrowings) / net worth 3 Investment portfolio mix at cost H12022 H12023 4 ICICI Lombard Nibhaye Vaade Equity includes units of mutual funds, Equity ETF, REIT and InvIT 14 Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable#15Agenda • Company Strategy Financial Performance ESG Initiatives Industry Overview i ICICI Lombard Nibhaye Vaade#16Safeguarding environment Responsible consumption An overarching Policy on Environment Management Environment friendly business practices Protecting the environment • • Adapting methods to conserve natural resources and energy Prevent emissions on a sustainable basis; Procuring renewable energy Incorporating business processes that promote reduction in use of paper Reduce, Reuse and Recycle for consumables Effective disposal of E-waste • Reducing carbon footprint by integrating digital tools for sourcing and servicing of business • Offering . • environment friendly insurance solutions like insurance for renewable energy - solar panel, electric vehicle insurance etc Value-added risk management solutions that enable customers to take effective measures towards reducing carbon footprint and catastrophic hazardous events impacting environment. Consideration of the environment and climate change in investment decisions • Adopting green measures communication across organisation for • . in Flexi-Able initiatives resulting digitization, reduction in business travel and environmental footprint "Make a difference" awareness campaign employees across verticals for Focused efforts towards reducing carbon emissions GHG Emissions assured by an independent external assurance provider ICICI Lombard Nibhaye Vaade For more information on our ESG performance, please Click Here 16#17Contributing the Social Way Addressing customer needs Creating value for employees . best-in-class Hiring from diverse skill sets; Employee friendly policies . • Providing experience • • Innovative products services and • • Al-based solutions and digital claim forms for instant renewals/claims Usage of cognitive computing to fasten claim processing, reducing overall response time Providing end to end digital solutions Robust grievance redressed mechanism ICICI Lombard Nibhaye Vaade • Building capabilities in knowledge, skills and competencies through intense and customized training programmes at defined stages of employee career DEI approach to promote higher representation of diversity • Customised employee support programmes . ⚫ Driving a performance culture through differentiation and linkage to rewards . . Enabling community awareness and development Aimed at community well-being in areas of skill development, sustainable livelihood, healthcare, road safety and wellness "Caring Hands" providing free spectacles for children with poor vision "Ride to Safety" raising awareness for road safety and bringing about behavioral change "Niranjali" to provide children with clean and safe drinking water . For seeking offsets of GHG emissions "Solar panels" on school roof tops - installed IL TakeCare app influencing behaviour to reduce health care and other cost in longer term For more information on our ESG performance, please Click Here 17#18Strong Governance Robust Structure Code of conduct 8 Data protection E • • • Optimum mix of Executive/Non-Executive Directors as per Policy on Board Diversity Performance evaluation of Board, Committees, Chairperson, Individual Directors ERM framework* for managing core risks and robust internal Risk Governance framework of executive committees Integrating ESG as key risk into ERM framework CSR & Sustainability Board Committee oversight to drive ESG Voluntary disclosures of BRSR (For more information Click Here) Conducting business with highest standards of compliance and ethics • Zero tolerance approach towards Fraud Policies like Prohibition of Insider Trading, Anti-Money Laundering Encouraging to report concerns through Whistle Blower Policy . . Dedicated Information Security Council Enforcing leading practices and controls through effective Cyber security Policy and Framework • Focused approach to cyber security with the triad of Confidentiality, Integrity and Availability (CIA) . Adopted leading practices in Cloud ICICI Lombard Nibhaye Vaade Security** and expanded the ambit of Information Security** certification Implemented data security controls and practices For more information on our ESG performance, please Click Here *ISO 31000:2018 compliance certification by the British Standards Institution (BSI) for effective ERM framework **ISO 27001:2013 for Information Security & ISO 27017:2015 for Cloud Security by Bureau Veritas Quality International 18#19Agenda • Company Strategy Financial Performance ESG Initiatives Industry Overview i ICICI Lombard Nibhaye Vaade#20India Non - life Insurance Market - Large Addressable Market Significantly underpenetrated Massive growth opportunity in non-life premiums 9.10 Premium as a % of GDP (CY21) India: US$ 30.30 billion EA*: US$ 399.68 billion World: US$ 3863.03 billion 5.20 USA S. Korea USA S. Korea S. Africa Japan UK 2.20 2.20 2.20 1.90 1.70 1.00 I 0.90 0.50 China Non-Life Insurance Density (Premium per capita) (CY21) (US$) Brazil India Russia Indonesia 2,520 1,764 1,039 855 229 154 130 111 22 22 UK Japan China S. Africa Brazil Russia Indonesia I 221 India • 4th largest non-life insurance market in Asia and 14th largest globally in 2021 • Non-life Insurance penetration in India was around 1/4th of Global Average in 2021 • Operates under a "cash before cover" model ICICI Lombard Nibhaye Vaade *EA-Emerging Asia Market Source: Sigma 4/2022 Swiss Re 20#21Industry has witnessed steady growth Industry CAGR IL CAGR Market Share of Private Players** 49.3% 11.1%# 28.4%# 49.7% 15.8% 11.7% 48.3% 16.6% 1,987.15 2,207.72 73.3%* 36.6% 0.1% 100.87 294.98 FY2001 FY2008 FY2021 FY2022 Tariff era Non-Tariff era 15.3%# 22.6%# 50.8% 1,251.96 1,085.75 H12022 H12023 billion *IL CAGR FY2003 - FY2008 **Excluding Standalone Health Insurers #Growth Industry GDPI 14 year Industry CAGR (FY2008 to FY2022) - GDPI 15.5%; PAT: Industry made losses in FY2022 14 year IL CAGR (FY2008 to FY2022) - GDPI: 12.9%; PAT: 19.7% Source: IRDAI and GI Council ICICI Lombard Nibhaye Vaade Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 21#22ICICI Lombard Nibhaye Vaade Thank you#23Annexure i ICICI Lombard Nibhaye Vaade#24Loss Ratio Particulars Motor OD Motor TP FY2021 Health, Travel & PA Crop Fire Marine Engineering FY2022 Q22022 62.2% 68.1% 62.8% 69.7% 74.0% 74.6% 78.0% 91.7% 71.4% 111.2% 107.9% 126.5% 63.7% 53.1% 64.6% 83.3% 77.6% 89.9% 57.7% 69.3% 54.8% Q22023 H12022 H12023 74.3% 64.0% 74.0% 66.6% 73.4% 70.1% 81.8% 109.3% 77.9% 85.2% 125.2% 84.3% 40.4% 75.1% 48.5% 71.9% 86.7% 69.4% 84.2% 64.5% 74.1% Other 52.7% 51.3% 61.7% 63.5% 61.8% 60.6% Total 68.6% 75.1% 69.8% 72.8% 79.5% 72.5% ICICI Lombard Nibhaye Vaade Merged figures are presented from April 1, 2021 onwards, hence figures of FY2021 are not comparable 24#25Abbreviations & Glossary: Al Artificial Intelligence API - Application Programming Interface AY Accident Year Banca - Bancassurance BRSR - Business Responsibility and Sustainability Reporting CAGR Compounded Annual Growth Rate CY Calendar Year D2C Direct to Consumers DEI Diversity, Equity & Inclusion EA - Emerging Asia Markets ESG - Environmental, Social and Governance ETF - Exchange-traded Fund FY - Financial Year G-Sec Government Securities GDP - Gross Direct Product GDPI Gross Direct Premium Income GHG Green house Gas GHI - Group Health Insurance GI Council - General Insurance Council GWP - Gross Written Premium IBNR - Incurred But Not Reported IL - ICICI Lombard General Insurance Company Limited IT-Information Technology IMTPIP - Indian Third Party Insurance Pool InvIT-Infrastructure Investment Trust IoT Internet of Things IRDAI - Insurance Regulatory and Development Authority of India ICICI Lombard • Nibhaye Vaade • ML-Machine Learning Motor TP-Motor Third Party Mn - Million NEP-Net Earned Premium NWP - Net Written Premium NPS Net Promoter Score OD Own Damage PA Personal Accident PAT - Profit After Tax PBT-Profit Before Tax - P&C Property & Casualty POS Point of Sales REIT- Real Estate Investment Trust ROAE - Return on Average Equity SEBI - Securities Exchange Board of India STP Straight through processing w.e.f. With effect from - -Indian Rupees TP Third Party - US$ VO United State's dollar Virtual Office "X" - times Unless specified as standalone, all the other numbers in the presentation for the current year are on merged basis For calculation of CAGR merged entity figures are considered for FY2022 25#26Catastrophic Event Year Cyclone Tauktae* 2021 Cyclone Yaas* 2021 Impact of catastrophic events: Historical snapshot * billion Our Share of Insured losses 10.2%** 0.4%* ** Economic Insured Losses losses* 150.00 15.00 200.00 7.00 Cyclone Amphan* 2020 1,000.00 15.00 8.0%** Maharashtra, Gujarat, Karnataka, 2019 709.70** 20.00 3.4% Kerala & other states Floods Cyclone Fani 2019 120.00 12.25 2.6% Kerala floods 2018 300.00 25.00 2.7% Chennai floods Cyclone Hudhud J&K floods 2015 150.00 49.40 6.2% 2014 715.00 41.60 2.0% 2014 388.05 15.60 2.5% 2014 393.30 15.60 *** North-east floods * estimates based on market sources ** **Combined for IL and BAGI ***There was no separate reporting of losses resulting from these floods since this did not rise to the level of a catastrophic event for us Other sources: Google search & estimates ICICI Lombard Nibhaye Vaade 11 26#27Reserving Triangle Disclosure - Total¹ Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 End of First Year 105.47 34.23 44.87 44.37 49.39 59.24 62.46 77.00 87.33 83.76 101.17 One year later 105.54 33.09 43.15 44.19 48.63 59.29 60.42 75.64 85.21 81.82 Two years later 105.48 32.75 43.09 43.83 48.11 58.81 59.34 75.33 84.76 Three years later 106.38 32.69 43.13 43.17 47.72 58.47 58.53 74.73 Four years later 106.91 32.82 42.59 42.96 47.21 58.00 57.62 Five years later 107.15 32.53 42.40 42.35 47.04 57.78 Six years later 107.47 32.55 42.09 42.36 47.01 Seven Years later 107.56 32.60 42.12 42.19 Eight Years later 107.34 32.59 42.11 Nine Years later 107.69 32.59 Ten Years later 107.73 Deficiency/ (Redundancy) (%) 2.1% -4.8% -6.2% -4.9% -4.8% -2.5% -7.8% -2.9% -2.9% -2.3% Unpaid Losses and Loss Adjusted Expenses As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 End of First Year 16.18 14.63 21.93 21.88 25.43 31.33 38.29 43.57 45.95 43.07 47.54 One year later 9.80 7.51 12.67 14.89 17.36 20.28 21.59 31.09 32.74 27.69 Two years later 7.71 5.98 10.64 12.53 14.47 15.90 17.93 22.82 28.80 Three years later 7.15 4.93 9.16 10.20 12.20 13.04 15.79 20.39 Four years later 6.29 4.37 7.45 8.76 9.99 11.59 13.83 Five years later 5.59 3.47 6.33 7.07 9.09 10.45 Six years later 5.01 3.07 5.19 6.60 8.38 Seven Years later 4.37 2.65 4.76 5.97 Eight Years later 3.56 2.46 4.43 Nine Years later 3.66 2.24 Ten Years later 3.45 ICICI Lombard Nibhaye Vaade 1As at March 31, 2022; Losses and expenses in the above tables do not include the erstwhile Indian Motor Third Party Insurance Pool (IMTPIP) Merged entity numbers are presented for all the financial years AY: Accident Year billion 27#28Reserving Triangle Disclosure - IMTPIP Incurred Losses and Allocated Expenses (Ultimate Movement) As at March 31, 2022 AY08 AY 09 AY 10 AY 11 AY 12 AY 13 End of First Year One year later Two years later Three years later Four years later 2.71 3.85 2.72 4.49 3.85 3.54 5.81 4.49 5.52 3.61 6.16 5.81 5.79 5.72 3.68 Five years later 2.61 6.16 6.16 5.88 6.17 4.13 Six years later 2.61 6.46 6.28 6.29 6.86 4.16 Seven Years later 2.86 6.55 6.39 6.74 6.85 4.15 Eight Years later 2.95 6.69 6.89 6.73 6.85 4.21 Nine Years later 3.00 6.98 6.89 6.74 6.86 4.33 Ten Years later Eleven Years later 3.09 6.98 6.89 6.93 6.99 3.09 6.98 6.97 7.10 Twelve Years later Thirteen Years later Fourteenth Years later Deficiency/ (Redundancy) (%) 3.09 7.19 7.16 3.09 7.40 3.16 10.3% 14.5% 16.2% 22.7% 26.5% 22.4% Unpaid losses and Loss Adjustment Expenses As at March 31, 2022 End of First Year AY08 AY 09 AY 10 AY 11 AY 12 AY 13 2.67 One year later Two years later Three years later Four years later 3.41 2.30 3.14 2.57 2.47 3.17 2.38 2.89 1.92 2.67 2.51 2.41 2.28 1.50 Five years later 0.86 2.05 2.17 1.83 2.04 1.57 Six years later 0.63 1.89 1.70 1.70 2.29 1.29 Seven Years later 0.72 1.50 1.41 1.74 1.83 1.01 Eight Years later 0.65 1.23 1.52 1.40 1.43 0.94 Nine Years later 0.55 1.19 1.18 1.10 1.29 0.91 Ten Years later Eleven Years later 0.52 0.89 0.89 1.11 1.21 0.43 0.63 0.85 1.05 Twelve Years later Thirteen Years later Fourteen Years later 0.32 0.69 0.91 0.28 0.75 0.27 ICICI Lombard Merged Entity numbers are presented from March 31, 2015. Nibhaye Vaade For consistent representation, Deficiency/(Redundancy) (%) is calculated by comparing numbers as on March 31, 2022 with March 31, 2015 AY: Accident Year billion 28#29Reserving Triangle Disclosure - Motor-TP (excluding IMTPIP) Incurred Losses and Allocated Expenses (Ultimate Movement) billion As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 End of First Year 11.06 5.81 10.74 12.63 15.97 17.05 19.98 24.41 31.55 25.15 AY 22 28.07 One year later 12.03 5.79 10.59 12.76 16.01 17.18 19.89 24.45 31.23 25.15 Two years later 12.07 5.91 10.86 12.99 16.11 17.13 19.65 24.14 31.23 Three years later 12.68 6.00 11.10 12.93 16.10 16.94 18.94 23.87 Four years later 12.96 6.16 11.00 12.95 15.88 16.56 18.20 Five years later 13.35 6.18 10.99 12.65 15.76 16.45 Six years later Seven Years later Eight Years later 14.03 6.31 10.85 12.62 15.75 14.25 6.35 10.85 12.48 14.30 6.46 10.85 Nine Years later Ten Years later Deficiency/ (Redundancy) (%) 14.75 6.46 14.83 34.1% 11.2% 1.0% -1.2% -1.4% -3.5% -8.9% -2.2% -1.0% 0.0% Unpaid Losses and Loss Adjusted Expenses As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 End of First Year 6.59 5.75 10.61 12.51 15.79 16.83 19.82 24.22 30.88 24.78 27.51 One year later 6.23 5.17 9.52 11.55 14.32 15.39 18.17 21.93 28.52 22.39 Two years later 4.95 4.45 8.38 10.23 12.40 13.33 15.88 20.07 25.95 Three years later 4.43 3.74 7.37 8.73 10.71 11.36 14.15 18.30 Four years later 3.73 3.28 6.19 7.64 8.97 10.15 12.48 Five years later 3.31 2.74 5.35 6.26 8.24 9.24 Six years later 3.29 2.48 4.38 5.82 7.61 Seven Years later 2.88 2.10 4.03 5.26 Eight Years later 2.44 2.04 3.73 Nine Years later 2.68 1.84 2.55 Ten Years later AICICI Lombard Nibhaye Vaade Merged entity numbers are presented for all financial years AY: Accident Year 29 29#30Reserving Triangle Disclosure - Others (excluding Motor-TP) Incurred Losses and Allocated Expenses (Ultimate Movement) billion As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 End of First Year 94.40 28.43 34.13 31.74 33.42 42.19 42.48 52.58 55.78 58.61 AY 22 73.11 One year later 93.52 27.30 32.57 31.43 32.62 42.11 40.54 51.19 53.98 56.67 Two years later 93.41 26.84 32.23 30.84 32.00 41.68 39.69 51.18 53.53 Three years later 93.70 26.68 32.03 30.25 31.62 41.53 39.59 50.86 Four years later 93.95 26.67 31.59 30.00 31.33 41.43 39.42 Five years later 93.80 26.35 31.42 29.70 31.28 41.33 Six years later Seven Years later Eight Years later 93.45 26.24 31.24 29.74 31.26 93.31 26.25 31.27 29.71 93.04 26.14 31.26 Nine Years later 92.94 26.13 Ten Years later 92.89 Deficiency/ (Redundancy) (%) -1.6% -8.1% -8.4% -6.4% -6.5% -2.0% -7.2% -3.3% -4.0% -3.3% Unpaid Losses and Loss Adjusted Expenses As at March 31, 2022 Prior* AY 13 AY 14 AY 15 AY 16 AY 17 AY 18 AY 19 AY 20 AY 21 AY 22 End of First Year 9.60 8.88 11.32 9.37 9.64 14.50 18.48 19.34 15.08 18.28 20.04 One year later 3.57 2.35 3.15 3.34 3.04 4.89 3.43 9.16 4.22 5.30 Two years later 2.76 1.53 2.26 2.29 2.07 2.57 2.05 2.75 2.84 Three years later 2.72 1.19 1.79 1.47 1.49 1.68 1.64 2.09 Four years later 2.55 1.10 1.26 1.12 1.01 1.44 1.35 Five years later 2.27 0.72 0.98 0.81 0.85 1.21 Six years later 1.73 0.59 0.80 0.78 0.77 Seven Years later 1.48 0.55 0.72 0.71 Eight Years later 1.12 0.42 0.71 Nine Years later 0.98 0.40 0.90 Ten Years later AICICI Lombard Nibhaye Vaade Merged entity numbers are presented for all the financial years AY: Accident Year 11 30#31Safe harbor: Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'would', 'indicating', 'expected to' etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion in business, the impact of any acquisitions, technological implementation and changes, the actual growth in demand for insurance products and services, investment income, cash flow projections, our exposure to market risks, policies and actions of regulatory authorities; impact of competition; the impact of changes in capital, solvency or accounting standards, tax and other legislations and regulations in the jurisdictions as well as other risks detailed in the reports filed by ICICI Bank Limited, our Promoter company with the United States Securities and Exchange Commission. ICICI Bank and we undertake no obligation to update forward-looking statements to reflect events or circumstances after the date there ICICI Lombard Nibhaye Vaade