ICICI Prudential Life Insurance Q1 profit surges 34% to ₹302 crore

ICICI Prudential Life Insurance Company recorded a 34% surge in its standalone net profit to ₹302.08 crore in the first quarter of the financial year 2025-26. A year back, the post-tax profit was ₹225.4 crore.

The company's value of new business (VNB) stood at ₹457 crore with a VNB margin of 24.5% for Q1 FY26.

The insurer posted a total premium growth of 8.1% year-on-year (YoY) in quarter ended June 2025 on the back of its extensive distribution and comprehensive product suite.

The total Annualised Premium Equivalent, or APE, stood at ₹1,864 crore for the quarter under review, a decline of 5% from ₹1,963 crore in Q1 FY25.

The cost-to-premium ratio enhanced from 24% in June 2024-25 to 21.2% in the reporting quarter, while cost-to-premium for the savings business improved from 16.8% to 14.1%.

Its assets under management were ₹3.24 lakh crore as of June 30, 2025, reflecting an increase of 5.1% from ₹3.08 lakh crore in June quarter of FY25.

Commenting on the earnings, Anup Bagchi, MD and CEO of ICICI Prudential Life Insurance, said, "Our Q1-FY2026 performance demonstrates the strength and resilience of our business model... 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."

He added, "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 Q1-FY2026 and zero NPA since inception. Our 13th-month persistency ratio stood at 86% in Q1-FY2026, exemplifying the quality of our business."