Company Overview
ICICI Prudential Life Insurance is a prominent Indian insurer, offering a full suite of life, health, and pension products across participating, non-participating, and unit-linked categories. The company distributes products through an extensive agent, bancassurance, broker, and digital network, serving individuals and groups nationwide.
Q2 FY26 Earnings Results
For Q1 FY26, ICICI Prudential Life Insurance reported revenues of ₹25,579 crore—nearly flat year-on-year as softer investment income and market volatility weighed on the topline. Total expenses were ₹25,073 crore, reflecting a slight YoY decrease thanks to effective cost discipline.
Consolidated Net Profit came in at ₹302 crore, marking a strong 34.2% rise from ₹225 crore in Q1 FY25, propelled by lower new business strain, a disciplined expense structure, and higher investment returns on surplus funds. Earnings Per Share improved in tandem, from ₹1.60 to ₹2.10.
Operational & Strategic Update
- Protection and Premium Growth: The company saw an 8.1% YoY increase in total premium and a robust 24.1% YoY jump in retail protection APE, reflecting strong underlying demand for long-term protection.
- Business Mix & Cost Efficiency: Despite a marginal 5% YoY decline in APE, improved cost ratios and a focus on protection products cushioned profits. The cost-to-premium ratio dropped to 21.2% (from 24.0% YoY).
- Persistency & Claims: Persistency rates remained strong at 86% (13-month) and 69.8% (49-month), with a high claim settlement ratio. New business sum assured jumped 36.3% to ₹3.71 lakh crore, and AUM grew to ₹3.2 lakh crore.
- Strategic Focus: Management continues to prioritize simplified, customer-centric products, cost discipline, proactive risk management, and building digital capabilities for long-term value creation.
Looking Ahead
ICICI Prudential Life Insurance is well positioned to expand its profitable protection business and drive operational excellence. Strategic investments in digital platforms, distribution breadth, and product innovation are expected to support sustained margin improvement and growth going forward.
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