ICICI Prudential Life Insurance Company Ltd. News, Corporate filings and Earnings/Conference Calls

Life Insurance company ICICI Prudential Life Insurance Company announced 9MFY25 results Proft after Tax (PAT) registers a growth of 18.3% to Rs 803 crore in 9MFY25. VNB grew by 8.5% Rs 1,575 crore in 9MFY25. Robust RWRP growth of 31.4% in 9MFY25, outperforming overall and private life insurers over the last five quarters. Number of policies (NOP) sold grew by 14.4% in 9MFY25, outperforming the private sector NOP growth. Strong growth in Annuity and Retail Protection of 81.7% and 24.2% respectively in 9MFY25. 13th month persistency of 89.8% at 9MFY25. Total In-force Sum Assured witnessed a growth of 17.0% to Rs 37.78 lakh crore at December 31, 2024. Pension Funds under Management crossed the Rs 40,000 crore milestone in Q3FY25. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said: “Our focus on aligning with the customer demand has helped us outperform the industry’s premium growth for five consecutive quarters. We have delivered a 31.4% YoY Retail Weighted Received Premium (RWRP) growth in 9MFY25, on the back of an increase of 14.4% in the number of policies sold. Our VNB grew by 8.5% year-on-year to Rs 1,575 crore in the same period, reflecting the growing profitability of our business. We continue to innovate our product suite to meet the evolving needs of our customers. We recently launched ‘ICICI Pru Wish’, the life insurance industry’s first health plan designed exclusively for women. Another industry-first product proposition we offered in the regular pay annuity segment was ‘ICICI Pru Guaranteed Pension Plan Flexi’ with the ‘Increasing Income’ feature enabling customers to manage inflation. Our customer focused approach has enabled us to build simplified processes across the policy life cycle. Our 13th month persistency ratio of ~90% at 9MFY25, underscores the customers’ trust in the Company. Our claim settlement ratio of 99.3% in 9MFY25, with an average turnaround time of just 1.2 days for non-investigated individual claims reflects our commitment to fulfilling the promise made to our customers and their families. It is our endeavour to deliver sustainable VNB growth by balancing business growth, profitability and risk & prudence.” Result PDF

ICICI Prudential Life Insurance Company Ltd. News, Corporate filings and Earnings/Conference Calls

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