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Informist, Tuesday, Jul. 15, 2025

MUMBAI – ICICI Prudential Life Insurance Co. Ltd. reported a 34% on-year increase in its net profit to INR 3.02 billion for Apr-Jun, the company's financial results released Tuesday showed. The insurer's net profit is seen at INR 2.4 billion, according to brokerage Sharekhan Ltd. 

As per the brokerage's estimate, net profit of ICICI Prudential Life Insurance was seen rising 6.5% on year and falling 38% on quarter. Net premium income for the quarter was projected to rise 10% on year to INR 86.72 billion and decline 47% on quarter.

In Jan-Mar, the life insurer's net premium income rose nearly 8% on year to INR 85.03 billion, with a nearly 10% on-year rise in renewal premium income to INR 49.42 billion. However, the company saw a fall of above 11% on yearly basis in its first-year premium to INR 14.54 billion and it fell 46.45% on quarter. Single premium, meanwhile, jumped 19.94% to INR 25.67 billion.

The insurer's solvency ratio stood at 212.3% as of Jun. 30, up from 187.9%, a year ago. It has remained broadly unchanged from a quarter ago. 

The value of new business for Apr–Jun was INR 4.57 billion, marking a 3.2% on-year decline. Based on an annualised premium equivalent of INR 18.64 billion for the quarter, the value of new business margin stood at 24.5%. ICICI Prudential Life Insurance ended FY25 with assets under management of INR 3.24 trillion, registering a year-on-year growth of 5.1%. 

"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 and zero non-performing asset since inception," said Anup Bagchi, managing director and chief executive officer. "We will continue to work on our strengths, that is customer centricity, product leadership, extensive distribution network, and business excellence, aided by the building blocks of people, digitalisation and analytics to help us achieve our core objective of growing the absolute value of new business."
 

The company's persistency ratio, which measures how long customers continue with the insurer, declined on year. For the 13-month metric based on individual premium collections, the ratio stood at 80.8% as of Jun. 30, down from 85.7% a year ago and up 250 basis points from quarter ago.

Further, the insurer offers a wide range of products across various segments such as savings--linked and non-linked--annuity, and protection to meet the specific needs of the customers, the company said. The company has a well-diversified product mix with annualised premium equivalent contribution from linked, non-linked, protection, annuity, and group funds at 46.8%, 21.5%, 21.9%, 5.4%, and 4.4%, respectively, in the quarter ended June. Shares of ICICI Prudential Life Insurance Co. ended 0.4% down at INR 669.60 on the National Stock Exchange.  End

Edited by Subhojit Sarkar

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