Conference Call with ICICI Prudential Life Insurance Company Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
ICICI Prudential Life Insurance Company announced Q1FY26 results Profit after Tax (PAT) registers a YoY growth of 34.2% to Rs 302 crore. Value of New Business (VNB) stood at Rs 457 crore with a margin of 24.5%. Retail Protection APE grew by 24.1% YoY to Rs 139 crore. Total New Business Sum Assured grew by 36.3% YoY to Rs 3.7 lakh crore. Assets under Management stood at Rs 3.2 lakh crore as on June 30, 2025, an increase of 5.1% in Q1FY26. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said: "In line with our strategy to place our customers at the centre of everything we do, simplifying our products and processes, strengthening our distribution network, aligning our cost structures with our product portfolio and proactively managing business risks, our Q1FY26 performance demonstrates the strength and resilience of our business model. Our Profit after Tax grew by 34.2% YoY to Rs 302 crore in Q1FY26 and our VNB stood at Rs 457 crore with a margin of 24.5%. We reported a total premium growth of 8.1% YoY in Q1FY26 on the back of our extensive distribution and comprehensive product suite. Protection continues to remain at the heart of our business strategy and we registered a strong growth of 24.1% YoY in our retail protection business. Furthermore, our total New Business Sum Assured grew by 36.3% YoY in the same period. Our customer centric approach resulted in 54% of our policies being issued on the same day for the savings line of business. Our claim settlement ratio of 99.6%, with an average turnaround time of 1.1 days for non-investigated individual death claims, reinforces our commitment towards transparency and reliability. Notably, the results of our cost optimisation initiatives have led to an improvement in our cost-to-premium for the savings line of business by 270 bps to 14.1% in Q1FY26. 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 that stood at 212.3% in Q1FY26 and zero NPA since inception. Our 13th month persistency ratio stood at 86% in Q1FY26, exemplifying the quality of our business. 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 VNB." Result PDF