ICICI Prudential Life Insurance reported a robust 34.6% year-on-year growth in Profit After Tax (PAT), reaching ₹1,600 crore for the full financial year 2026. The company achieved a 10.9% increase in the Value of New Business (VNB) to ₹2,629 crore, while maintaining a healthy VNB margin of 24.7%. Total in-force sum assured grew by 16.9% to reach ₹46.11 lakh crore as of March 31, 2026.
Financial Performance Overview
For the financial year ended March 31, 2026, ICICI Prudential Life Insurance demonstrated strong financial resilience. The company’s Profit After Tax climbed to ₹1,600 crore, driven significantly by higher investment income from shareholder funds, which included a ₹114 crore gain from the sale of its equity stake in the pension fund management subsidiary.
The Value of New Business (VNB), a key profitability metric, grew by 10.9% compared to the previous year, standing at ₹2,629 crore with an improved margin of 24.7%. Furthermore, the Embedded Value (EV) rose by 10.5%, reaching ₹52,989 crore.
Growth in Premiums and Market Presence
New business received premiums saw a substantial 30.6% year-on-year increase in Q4-FY2026, totaling ₹9,719 crore. On an annual basis, new business premiums reached ₹24,810 crore, a 9.9% increase over the previous year. The total in-force sum assured, reflecting the company’s extensive reach in life coverage, grew by 16.9% to ₹46.11 lakh crore.
Strategic Highlights
The company successfully navigated market shifts, including the positive impact of the 0% GST reform in September 2025, which bolstered the retail protection segment. Retail protection Annualised Premium Equivalent (APE) recorded a strong growth of 50.9% year-on-year during the second half of the year.
Operational efficiency remained a priority, with the savings cost-to-premium ratio reducing by 40 basis points to 12.1% in FY2026. Additionally, the company maintained high asset quality with zero Non-Performing Assets (NPA) since its inception and a robust solvency ratio of 227.3%, well above the regulatory requirement of 150%.
Dividend Recommendation
Reflecting its commitment to shareholder value, the Board has recommended a final dividend of ₹1.65 per equity share for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting.
Source: BSE
