ICICI Prudential Life Insurance posted a net profit of Rs 386 crore in Q1FY27, advancing nearly 28% from Rs 302 crore reported in the year-ago period. However, on a sequential basis, the company’s bottom line declined more than 36% from Rs 609 crore in Q4FY26.
The company’s new business premium for the June quarter was pegged at Rs 4,866 crore, up 21% year-on-year from Rs 4,012 crore reported in the same quarter last year. The insurance company reported its Annualised Premium Equivalent for the first quarter of the financial year 2027 at Rs 2,136 crore, advancing 14.6% from Rs 1,864 crore reported in Q4FY26.
ICICI Prudential VNB rises 25% YoY
The ICICI Group company posted its value of new business (VNB) at Rs 571 crore, surging around 25% from Rs 457 crore reported in Q1FY26. Its VNB margin also posted a YoY rise of 220 basis points at 26.7% in comparison to 24.5% reported in Q1FY26.
The company’s Assets Under Management posted a YoY growth of around 3% at Rs 3.34 lakh crore from Rs 3.24 lakh crore reported in Q1FY26. ICICI Prudential Life Insurance’s solvency ratio also improved by 13.1% as it increased to 225.4% from 212.3% reported in the year-ago period.
ICIC Prudential Life Insurance to be renamed
The company’s board of directors also approved the proposal to rename the company as ICICI Life Insurance. Currently, the firm is named ICICI Prudential Life Insurance. “The proposed name reflects the strength, trust and legacy associated with the ICICI franchise. Our business continues to be on a growth trajectory, operating as usual, and we remain focused on expanding our reach, enhancing customer value, and capitalising on the significant opportunities presented by India’s growing life insurance market,” said Anup Bagchi, MD & CEO of the company.
He highlighted that the firm’s new business premium growth was driven by growth in its policies. “ Protection continues to be our core focus area, and we registered a strong growth of 60.4% year-on-year in our retail protection business in Q1-FY2027, driven by the GST exemption on protection products and various Companyled initiatives,” Bagchi said in a statement.
ICICI Prudential share price
ICICI Prudential Life Insurance Company’s stock rose by more than 5% in the intraday session following the release of its financial statement. Over the past one month, the company’s stock has delivered a return of nearly 10%, while over the past six months it has declined by 21%.