ICICI Prudential Life Insurance Profit After Tax grows by 34.2% to ₹ 302 crore in Ǫ1-FY2026

Performance highlights: Ǫ1-FY2026

· Profit after Tax (PAT) registers a year-on-year growth of 34.2% to ₹ 302 crore

· Value of New Business (VNB) stood at ₹ 457 crore with a margin of 24.5%

· Retail Protection APE grew by 24.1% year-on-year to ₹ 139 crore

· Total New Business Sum Assured grew by 36.3% year-on-year to ₹ 3.7 lakh crore

· Assets under Management stood at ₹ 3.2 lakh crore as on June 30, 2025, an increase of 5.1% in Ǫ1-FY2026

Bengaluru, July 15, 2025: ICICI Prudential Life Insurance registered a 34.2% year-on-year growth in its Profit after Tax (PAT) to ₹ 302 crore for Ǫ1-FY2026. The Value of New Business (VNB), which represents the present value of future profits, stood at ₹ 457 crore with a VNB margin of 24.5% for Ǫ1-FY2026. The Company reported a total premium growth of 8.1% year-on- year in Ǫ1-FY2026 on the back of its extensive distribution and comprehensive product suite.

The total Annualised Premium Equivalent (APE) stood at ₹ 1,864 crore for Ǫ1-FY2026. The Company’s retail New Business Sum Assured grew by 31.5% year-on-year to ₹ 77,750 crore in Ǫ1-FY2026. The total in-force sum assured, which is the quantum of life cover taken by customers of the Company, grew by 17.1% year-on-year to ₹ 41.1 lakh crore.

The Company has a well-diversified distribution network, ensuring its presence across platforms and touchpoints preferred by varied customer segments. In Ǫ1-FY2026, APE contribution from agency, direct, bancassurance, partnership distribution and group, stood at 24.9%, 13.5%, 29.7%, 12.9% and 18.9% respectively.

The cost-to-premium ratio improved from 24.0% in Ǫ1-FY2025 to 21.2% in Ǫ1-FY2026, while cost-to-premium for the savings business improved from 16.8% to 14.1%. The Company continues to undertake various cost optimisation initiatives to ensure the cost structure is commensurate with the product mix.

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The assets under management of the Company stood at ₹ 3.2 lakh crore at June 30, 2025. This is an outcome of the trust reposed in the Company by our customers, growth in new business, strong persistency and robust fund management.

The Company’s robust risk management framework has enabled it to have a record of zero non-performing assets since inception. The solvency ratio was 212.3% as on June 30, 2025, against the regulatory requirement of 150%.

The Company’s commitment to sustainability is central to its vision of building an enduring institution that serves the protection and long-term saving needs of customers with sensitivity. The Company continues to be the highest rated Indian insurer as per two leading ESG rating agencies. The current ESG rating of ‘AA’ ascribed by MSCI makes the Company, one of the top-rated life insurers in India.

Commenting on the results, Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “In line with our strategy to place our customers at the centre of everything we do, simplifying our products and processes, strengthening our distribution network, aligning our cost structures with our product portfolio and proactively managing business risks, our Ǫ1-FY2026 performance demonstrates the strength and resilience of our business model. Our Profit after Tax grew by 34.2% year-on-year to ₹ 302 crore in Ǫ1-FY2026 and our VNB stood at ₹ 457 crore with a margin of 24.5%.

We reported a total premium growth of 8.1% year-on-year in Ǫ1-FY2026 on the back of our extensive distribution and comprehensive product suite. Protection continues to remain at the heart of our business strategy and we registered a strong growth of 24.1% year-on-year in our retail protection business. Furthermore, our total New Business Sum Assured grew by 36.3% year-on-year in the same period.

Our customer centric approach resulted in 54% of our policies being issued on the same day for the savings line of business. Our claim settlement ratio of 99.6%, with an average turnaround time of 1.1 days for non-investigated individual death claims, reinforces our commitment towards transparency and reliability.

Notably, the results of our cost optimisation initiatives have led to an improvement in our cost-to-premium for the savings line of business by 270 bps to 14.1% in Ǫ1-FY2026.

Risk management continues to be an integral part of our approach to business with a focus on right selling, sourcing and onboarding, reflected by our strong solvency ratio that stood at 212.3% in Ǫ1-FY2026 and zero NPA since inception. Our 13th month persistency ratio stood at 86% in Ǫ1-FY2026, exemplifying the quality of our business.

We will continue to work on our strengths, that is customer centricity, product leadership, extensive distribution network and business excellence, aided by the building blocks of people, digitalisation and analytics to help us achieve our core objective of growing the absolute VNB.”