ICICI Prudential Life Insurance presents its performance update for H1 FY2026. Key highlights include a VNB of ₹10.49 bn and embedded value of ₹505.01 bn. The company maintained a solvency ratio of 213.2%. Focus remains on product innovation and diversified distribution.
Financial Performance Highlights
ICICI Prudential Life Insurance reported the following key financial metrics for H1 FY2026:
- VNB: ₹10.49 bn
- Embedded Value: ₹505.01 bn
- Profit After Tax: ₹6.01 bn
- Solvency Ratio: 213.2%
The company’s total premium stood at ₹212.51 bn, with a 9.2% year-on-year growth.
Business Strategy and Growth
The company focuses on a 3C framework: Customer Centricity, Competency, and Catalyst to drive sustainable VNB growth. Diversified distribution channels are key to its strategy, including agency, bancassurance, and partnerships. ICICI Prudential is focused on maintaining a strong and resilient balance sheet.
Product and Distribution Mix
The product mix includes linked, non-linked, and annuity products. Distribution is diversified across agency, bancassurance, and direct channels, ensuring a wide reach and customer acquisition.
Customer Centricity at the Core
The company maintains a claim settlement ratio of 99.3% and continues to focus on digital innovation to enhance customer experience, including digital KYC and AI-driven solutions. Focus on swift claim settlement at 1.1 days.
Focus on Long-Term Savings
The company highlights opportunities in the Indian life insurance industry, particularly in long-term savings, retirement solutions, and protection products. There’s a substantial protection gap, indicating significant growth potential.
Source: BSE
