ICICI Prudential Life Q1 earnings: Net profit rises 28% to ₹386 crore, VNB margin expands by 220 basis points

ICICI Prudential Life Insurance Company, the country's leading private sector life insurance company, on Wednesday, July 15, said that it earned a net profit of ₹386 crore in the first quarter of current financial year, marking an increase of 28% from ₹302 crore in the same period last year.

The company's value of new business (VNB), a critical metric to measure the long-term economic profitability of an insurer, advanced 25% to ₹571 crore compared with 457 crore in the year-ago period.

VNB margin expanded by 220 basis points to 26.9% from 24.5%.

Total premium collected by ICICI Prudential Life Insurance Company in April-June period advanced 14.5% to ₹10,251 crore from ₹8,954 crore in the corresponding period of 2025.

The company's asset under management at the end of first quarter rose by 2.9% to ₹3.34 lakh crore as against 3.24 lakh crore.

ICICI Prudential's persistency, that is the percentage of policies that remain active and are not surrendered or allowed to lapse by policyholders, at 13th month came in at 84%, 25th month persistency was 77%, 37th month persistency was 77.3% and 49th month persistency was recorded at 71.7%.

New business received premium grew by 21.3% year-on-year from ₹4,012 crore in Q1-FY2026 to ₹4,866 crore in Q1-FY2027, on the back of 13.2% year-on-year growth in the number of policies, ICICI Prudential said in an exchange filing.

"Retail new business sum assured strongly grew by 45.9% year-on-year from ₹ 0.78 lakh crore in Q1-FY2026 to ₹ 1.13 trillion in Q1-FY2027. Total in-force sum assured, which is the quantum of life cover taken by customers of the Company stood at ₹48.06 lakh crore at June 30, 2026," the company added.

ICICI Prudential's net worth was ₹14,375 crore at the end of June quarter. The solvency ratio was 225.4% against the regulatory requirement of 150%.

ICICI Prudential Life Insurance shares surged as much as 5.55% to hit an intraday high of ₹531.95 on the National Stock Exchange following its earnings announcement outperforming the NIFTY LARGEMIDCAP 250 index which was up 0.4%.