Earnings Review
ICICI Prudential Life posts strong PAT Jul-Sept as expenses halve
This story was originally published at 16:01 IST on 14 October 2025
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--ICICI Pru Life: Saw higher lead volumes, conversion rates post GST cut
--ICICI Pru Life Apr-Sept VNB margin at 24.5% vs 23.7% year ago
--ICICI Pru Life AUM INR 3.21 tln as on Sept 30, up 0.3% on year
--ICICI Pru Life Apr-Sept value of new business INR 10.49 bln, down 0.9% YoY
--ICICI Pru Life 13th month persistency at 82.4% Sept 30 vs 82.5% qtr ago
--ICICI Pru Life solvency ratio at 213.2% on Sept 30 vs 212.3% qtr ago
--ICICI Pru Life Apr-Sept net premium income INR 203.46 bln vs INR 186.29 bln
--ICICI Pru Life Jul-Sept net premium income INR 118.43 bln vs INR 107.54 bln
--ICICI Pru Life Apr-Sept net profit INR 6.01 bln vs INR 4.77 bln year ago
--ICICI Pru Life Jul-Sept net profit INR 2.99 bln vs INR 2.52 bln year ago
--ICICI Pru Life Jul-Sept net profit INR 2.99 bln
By Krity Ambey
NEW DELHI – ICICI Prudential Life Insurance Co. Ltd. posted a strong profit in the September quarter as the company's expenses halved due to a negative change in the acturial liability--the estimated value of future payouts to policyholders. It turns negative when the company expects future premium collections to be more than enough to cover those payouts.
The insurer's net profit jumped 19% to INR 2.99 billion for the quarter. Sequentially, ICICI Prudential Life Insurance's profit was nearly flat, against INR 3.02 billion in the quarter ended June.
The insurance company's total expenses fell 54% on year as well as on quarter to INR 115.31 billion in the September quarter as it reported a negative entry of INR 21.19 billion under change in acturial liability, against INR 104.22 billion acturial liability in the corresponding quarter a year ago. In the trailing quarter, the insurer's acturial liability was INR 130.72 billion.
In the September quarter, the company's net premium income rose 10% on year to INR 118.43 billion, with a nearly 10% on-year rise in renewal premium income to INR 68.52 billion. But the company's first year premium fell 8% to INR 19.75 billion during the quarter. Single premium, meanwhile, grew 25% to INR 34.70 billion.
The insurer's solvency ratio stood at 213.2% as of Sept. 30, against 188.6% at the end of September 2024. It has remained broadly unchanged from 212.3% as of Jun. 30. 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 was 85.3% as of Sept. 30, down from 89.8% a year ago and up 450 basis points from a quarter ago.
ICICI Prudential Life's net profit for Apr-Sept was up 26% on year at INR 6.01 billion. The company's net premium income was up 9% at INR 203.46 billion. The value of new business was INR 10.49 billion, slightly lower than INR 10.58 billion a year ago. Based on an annualised premium equivalent of INR 42.86 billion for the six months, the value of new business margin was 24.5%. ICICI Prudential Life Insurance had INR 3.21 trillion worth of assets under management as on Sept. 30.
The insurer's protection segment, especially in the retail category, saw a pronounced positive impact of the government's decision to exempt goods and services tax on life insurance premiums, Managing Director and Chief Executive Officer Anup Bagchi said in a press statement. "We have observed growth in website traffic, both lead volumes and conversion rates across product segments, indicating enhanced customer traction," Bagchi said. Going ahead, the company expects its protection segment to grow substantially. On the National Stock Exchange, shares of ICICI Prudential Life Insurance ended 0.8% higher at INR 598.05. End
Edited by Ashish Shirke
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