Conference Call with ICICI Prudential Life Insurance Company Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.
ICICI Prudential Life Insurance Company announced Q2FY26 results Net premium income: Rs 11,84,310 lakh compared to Rs 10,75,421 lakh during Q2FY25. Profit before tax: Rs 34,244 lakh compared to Rs 28,524 lakh during Q2FY25. Profit after tax: Rs 29,583 lakh compared to Rs 25,099 lakh during Q2FY25. Solvency Ratio: Solvency ratio of 213.2% as on September 30, 2025, against the regulatory requirement of 150%. Assets under Management (AUM): AUM stood at Rs 3.21 lakh crore as on September 30, 2025. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said: “We welcome the Indian Government’s recent GST reforms aimed at making life insurance affordable and accessible. We are happy to share that we have passed on the benefit of GST exemption to our customers, enabling them to enjoy savings on their premium payments. We believe these reforms will usher in growth and be value accretive for all our stakeholders including our customers, our distributors and our Company. The early trends indicate a positive response post the GST exemption on life insurance. We have observed growth in website traffic, both lead volumes and conversion rates across product segments, indicating enhanced customer traction. Specifically, the effect of GST exemption has been more pronounced in the retail protection category. For us, protection is a focus area and notably, the retail protection segment has grown at a CAGR of 31% for the last three years (H1FY23 to H1FY26). New Business Sum Assured, which is the quantum of life cover taken by customers, grew by 19.3% YoY to Rs 6.77 lakh crore in H1FY26 and at September 30, 2025, our total in-force sum assured stood at Rs 42.16 lakh crore. Going forward, we expect the protection segment to grow substantially. Our approach to offer the right product to the right customer at the right price through the right channel has enabled us to deliver a profit after tax of Rs 601 crore in H1FY26, a 26% YoY growth. The Value of New Business (VNB) for the same period was Rs 1,049 crore. Embedded Value (EV) stood at Rs 50,501 crore, a growth of 9.7% YoY and the Value of In-force business (VIF) stood at Rs 37,761 crore a growth of 18.1% YoY. The Total Premium has registered a YoY growth of 9.2% to Rs 21,251 crore in H1FY26. We have implemented various initiatives to enhance efficiencies leading to our savings business cost-to-premium ratio reducing by 280 basis points YoY to 12.7% for H1FY26. Our 13th month persistency ratio of 85.3% in H1FY26, underscores our customer’s trust and satisfaction. Our claim settlement process is designed to deliver enhanced experience, we have registered an industry leading claim settlement ratio of 99.3% for H1FY26, with an average turnaround time of 1.1 days for non-investigated claims. The trust reposed in us by our customers, suite of innovative products, multi-channel distribution network and a conducive business environment position us well to deliver profitable and sustainable business growth.” Result PDF