ICICI Prudential Life Insurance Company Limited is a life insurance and customer wealth management services company. Founded in 2000, it is headquartered in Mumbai. The company is officially recognised by the Insurance Regulatory and Development Authority of India to conduct life insurance operations.
The company started its operations in the fiscal year 2001 and has consistently ranked among the top private sector life insurance companies in India based on Retail Weighted Received Premium (RWRP).
It is a joint venture of ICICI Bank and Prudential Corporation Holdings Limited. ICICI Bank holds a 51% stake in ICICI Prudential Life Insurance Company Limited, which is a subsidiary of ICICI Bank Ltd. Prudential Plc has a 22% stake in the company. It is a British multinational insurance company headquartered in London. It is the largest UK life insurer in Asia, operating in various countries including India, China, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines and other Asian nations.
ICICI Prudential's services include life insurance, pensions and health insurance products for both individuals and groups. The business operates in participating, non-participating and unit-linked lines. The services are distributed through individual agents, corporate agents, banks, brokers, the sales force and the company's website.
After its inception, ICICI Prudential became the first private life insurance company in India to manage assets worth ₹1 trillion during the fiscal year 2015. The company also became the first insurance company in India to be listed on both the National Stock Exchange (NSE) and BSE in 2016.
The company's Assets Under Management (AUM) surpassed the ₹2.5 trillion milestone in FY2023. The company ranks among India's prominent private life insurers and holds a total in-force sum assured of ₹29.5 trillion as of March 2023.
The market capitalisation of ICICI Prudential is over ₹76,300 crore as of January 12, 2024. ICICI Prudential share price has gained close to 1% in the last three years.
Business operations
ICICI Prudential has a network of 471 branches and over 2 lakh advisors. It also has over 900 partnerships which include 39 bank collaborations.
The company has a wholly-owned subsidiary ICICI Prudential Pension Funds Management Company. It distributes products under the National Pension System. The pension fund management company is registered under the Pensions Fund Regulatory and Development Authority of India.
ICICI Prudential Life Insurance Company Limited has covered 7.7 crore people. The company recorded a 98.7% claim settlement ratio in FY23 and its settled claims totalled ₹1,949 crore.
ICICI Prudential Life Insurance Financial Highlights
- Revenue: ICICI Prudential Life Insurance reported revenue of ₹25,320.15 crore in FY25 vs ₹15,637.51 crore in FY24. It showed an increase of 61.92% on a yearly basis.
- Operating Profit: ICICI Prudential Life Insurance reported an operating profit of ₹376.22 crore in FY25 vs ₹293.70 crore in FY24. It showed an increase of 28.10% on a year-on-year basis.
- Net Profit: ICICI Prudential Life Insurance reported a net profit of ₹300.99 crore in FY25 vs ₹385.28 crore in FY24. It showed a decrease of 21.88% on a yearly basis.
ICICI Prudential Life Insurance Quarterly Result Highlights
- ICICI Prudential Life Insurance reported revenue of ₹25,320.15 crore in Jun 2025, compared with ₹15,637.51 crore in Mar 2025, representing an increase of 61.92% on a quarter-on-quarter (QoQ) basis.
- ICICI Prudential Life Insurance reported an operating profit of ₹376.22 crore in Jun 2025, compared with ₹293.70 crore in Mar 2025, representing an increase of 28.10% on a quarter-on-quarter (QoQ) basis.
- ICICI Prudential Life Insurance reported a profit of ₹300.99 crore in Jun 2025, compared with ₹385.28 crore in Mar 2025, reflecting a decrease of 21.88% on a QoQ basis.
- The earnings per share (EPS) of ICICI Prudential Life Insurance stood at ₹8.21 during Jun 2025.
