ICICI Prudential Life Insurance Company Ltd(ICICIPRULI)

NSE: ICICIPRULIBSE: 540133

₹ 433+0.46%refreshed 22 Oct, 03:30 pm ISTMarket cap: ₹ 62,838 crWebsite: www.iciciprulife.comUpdated: 24 Oct 2026

About

ICICI Prudential Life Insurance, now renamed ICICI Life Insurance Limited, is a private life insurer in India. It sells protection, savings (linked, non-par and par), annuity and group products through bancassurance, agency, partnership and direct channels. In FY26 it reported revenue of ₹53,124.64 crore. Its embedded value was ₹566.69 bn at September 2026.^[1][2]

Key operating metrics

APE was ₹49.35 bn in H1 FY27, up 15.1% YoY. Q2 FY27 APE was ₹27.99 bn, up 15.6%.^[2]
Full-year FY2026 APE was ₹106.41 bn, up 2.2% YoY.^[3]
VNB was ₹12.83 bn in H1 FY27, up 22.3% YoY. The H1 FY27 VNB margin was 26.0%, against 24.7% in FY26.^[2]
Embedded value was ₹566.69 bn at September 2026, up 12.2% YoY.^[2]
Total premium was ₹245.05 bn in H1 FY27, up 15.3% YoY. New business premium grew 25% in H1 FY27.^[2]
The solvency ratio was 229.9% at September 2026.^[2]
The claim settlement ratio was 99.3% in H1 FY27.^[2]
In September 2026, APE was ₹9.49 bn (retail APE ₹7.58 bn) and RWRP was ₹7.12 bn, up 8.9% YoY.^[4]

Product mix

Protection APE grew 39.5% to ₹11.55 bn in H1 FY27. Retail protection APE grew 47.2% to ₹4.55 bn.^[2]
Sum assured market share rose to 11.5% in H1 FY27.^[2]
Annuity APE grew 65.5% in Q2 FY27 and 50.0% in H1 FY27. Group funds APE grew 51.5% in Q2 FY27.^[2]
Non-linked savings APE fell 0.6% in Q2 FY27 and 4.5% in H1 FY27.^[2]
In FY2026, the par to non-par ratio within traditional savings moved from about 2:1 to about 50:50 after a January 2025 product launch.^[5]
The product range covers participating, non-participating non-linked and linked products across savings, protection, pension, annuity, health and group lines.^[6]

Distribution channels

Partnership distribution APE grew 37.7% in Q2 FY27, with 80+ partners added. Agency APE grew 4.1% and bancassurance APE grew 3.9% in the quarter.^[2]
H1 FY27 APE by channel: agency ₹11.02 bn (+3.3%), bancassurance ₹13.54 bn (+4.6%), partnership ₹7.32 bn (+34.1%).^[2]
As of FY25, the company had more than 200,000 agents, partnerships with 48 banks giving access to more than 23,000 branches, and 1,300 non-bank partnerships.^[6]
Direct channel APE was ₹14.30 bn in FY2026, down 4.9% YoY.^[7]

Persistency

13th-month persistency was 84.5% at September 2026, against 84.0% at June 2026.^[2]
61st-month persistency was 62.5% at September 2026, against 61.9% at June 2026.^[2]
The FY2026 decline in persistency came mainly from the 100% premium-back annuity product. The EV persistency variance was negative ₹2.64 bn.^[7]

Customers and reach

As of FY25, the company had 91.7 million in-force lives insured and settled around 3.7 lakh claims.^[6]
Micro-insurance products covered 73.7 million lives at March 2025.^[6]
The company's app has 3.8 million+ downloads and a 4.7 rating (FY25), the highest rated in the Indian life insurance industry.^[6]

Cost efficiency

Cost to total premium was 20.0% in H1 FY27, up 80 bps.^[2]
The full-year FY2026 total cost-to-premium ratio was 18.2%.^[3]

Recent developments

The company has been renamed ICICI Life Insurance Limited. Core operations, strategy and governance are unchanged (Q2 FY27).^[2]
Anup Bagchi resigned as MD and CEO effective October 13, 2026. Sidharatha Mishra was appointed MD and CEO effective October 14, 2026.^[8]
In FY2026 the company sold its 100% stake in ICICI Pension Fund Management Company, booking a gain of ₹1.14 bn.^[7]
In Q3 FY2026 the company called ₹12 bn of subordinated debt and raised fresh subordinated debt to replace it.^[9]
The GST exemption on individual life policies took effect on September 22, 2025.^[9]
The IND-AS transition is planned to go live in FY2027.^[7]

Market Cap

₹62,838 Cr

High / Low

₹707 / 423

Stock P/E

62.0

Price / Book

0.0

Book Value

₹10

EPS

₹11.0

No. of Shares

144.93 Cr

ROE

12.5%

Sales

₹53,125 Cr

Net Profit

₹1,600 Cr

Promoter holding

74.7%

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ICICI Prudential Life Insurance Company Ltd(ICICIPRULI)

About

Key operating metrics

Product mix

Distribution channels

Persistency

Customers and reach

Cost efficiency

Recent developments

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