ICICI Prudential Life Insurance Company Ltd on Tuesday released its fiscal first quarter earnings report with profit at Rs 302.08 crore. This was 34.02 per cent higher than Rs 225.40 crore recorded during the corresponding quarter of previous financial year. The growth, it added, was recorded as a result of lower new business strain coupled with higher investment income from shareholders investments.
The Value of New Business (VNB), which represents the present value of future profits, stood at Rs 457 crore with a VNB margin of 24.5 per cent for Q1FY26.
During the quarter in review, ICICI Prudential reported a total premium growth of 8.1 per cent on-year on the back of its extensive distribution and comprehensive product suite.
The total Annualised Premium Equivalent (APE) stood at Rs 1,864 crore for Q1. The Company’s retail New Business Sum Assured grew by 31.5 per cent YoY to Rs 77,750 crore in Q1FY26. The total in-force sum assured, which is the quantum of life cover taken by customers of the company, grew by 17.1 per cent to Rs 41.1 lakh crore.
The assets under management of the company stood at Rs 3.2 lakh crore as 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,” it said.
ICICI Pru Q1: Distribution network
ICICI Prudential said that the company has a well-diversified distribution network, ensuring its presence across platforms and touchpoints preferred by varied customer segments. In Q1FY26, APE contribution from agency, direct, bancassurance, partnership distribution and group, stood at 24.9 per cent, 13.5 per cent, 29.7 per cent, 12.9 per cent and 18.9 per cent respectively
Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, “Our customer centric approach resulted in 54 per cent of our policies being issued on the same day for the savings line of business. Our claim settlement ratio of 99.6 per cent, 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 per cent in Q1FY26.”
Shares of ICICI Prudential went up by 0.35 per cent today at 2:20 pm to a trading price of Rs 675.00.