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Informist, Tuesday, Apr. 15, 2025

 

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--ICICI Prudential Life Jan-Mar net profit INR 3.86 bln
--ICICI Prudential Life Jan-Mar net profit INR 3.86 bln vs INR 1.74 bln
--ICICI Pru Jan-Mar net premium income INR 163.69 bln vs INR 147.88 bln
--ICICI Prudential Life FY25 net profit INR 11.89 bln vs INR 8.52 bln
--ICICI Pru FY25 net premium income INR 472.59 bln vs INR 417.60 bln
--ICICI Pru Life solvency ratio at 212.2% as on Mar 31 vs 211.8% qtr ago
--ICICI Pru Life 13th month persistency ratio 84.3% as on Mar 31
--ICICI Pru Life to pay INR 0.85 per share final dividend
--ICICI Pru FY25 value of new business INR 23.70 bln, up 6.4% on year
--ICICI Pru Life AUM at INR 3.09 tln as on Mar 31, up 5.2% on year
--ICICI Pru Life FY25 VNB margin at 22.8%

 

NEW DELHI – ICICI Prudential Life Insurance Co. Ltd.'s net profit in Jan-Mar more than doubled from a year ago to INR 3.86 billion, the company's financial results released on Tuesday showed. The life insurer's bottom line for the March quarter was seen in the range of INR 2.90 billion and INR 4.50 billion. For 2024-25 (Apr-Mar) as a whole, ICICI Prudential Life Insurance's net profit was 40% higher at INR 11.89 billion.

 

Shares of ICICI Prudential closed at INR 567.15 on the National Stock Exchange on Tuesday, up 2.6% from their previous close. The insurer reported its earnings post market hours.

 

 

In Jan-Mar, the life insurer saw its net premium income rising 11% year on year to INR 163.69 billion, with first-year premium down 8% at INR 27.09 billion and renewal premium up 9% at INR 92.09 billion. Single premium, meanwhile, jumped 30% to INR 49.13 billion. For FY25 as a whole, the net premium income stood at INR 472.59 billion, up from INR 417.60 billion in FY24.

 

The insurer's value of new business in FY25 was INR 23.70 bln, up 6% on year. With an Annualised Premium Equivalent at INR 104.07 billion for the year, the value of new business margin stood at 22.8%. ICICI Prudential Life Insurance ended FY25 with assets under management of INR 3.09 trillion, registering a year-on-year growth of 5%. The company has declared a final dividend of INR 0.85 per share.

 

"We are pleased to announce that we have crossed 10,000 crore APE for the first time, marking a significant milestone in our growth journey," Anup Bagchi, managing director and chief executive officer, was quoted as having said in a statement. "Our Retail Weighted Received Premium growth of 15.2% in FY25, demonstrates our ability to deliver superior performance in a competitive landscape," Bagchi added.

 

As at the end of March, the insurer's solvency ratio increased to 212.2% from 211.8% as on Dec. 31 and 191.8% a year ago.

 

The company's persistency ratio, a measure of how long customers stay with the insurer, declined to 84.3% from 87.4% a year ago for the 13-month ratio on a premium basis under the individual category, with the 61-month ratio falling to 61.9% from 65.1% last year.  End

 

Reported by Siddharth Upasani

Edited by Akul Nishant Akhoury

 

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