ICICI Prudential Life Insurance reports its performance update for September 2025. The company highlights its key business metrics, including RWRP, APE, and new business premium growth. The update provides insights into the company’s strategy, industry overview, and financial performance.
Premium Growth Highlights
The company’s performance update for September 2025 includes the following key metrics:
- RWRP: ₹6.82 billion, with a year-on-year growth of -8.5%
- APE: ₹8.71 billion, showing a year-on-year growth of -1.1%
- New Business Premium: ₹17.61 billion, reflecting a year-on-year growth of 6.1%
- New Business Sum Assured: ₹1,098.59 billion, with a year-on-year growth of 12.5%
Strategy and Performance
ICICI Prudential focuses on a 3C Framework: Customer Centricity, Competency and Catalyst, to drive sustainable VNB growth, balancing business growth, profitability, and risk management.
Key elements of the strategy include:
- Comprehensive product suite centered around customer needs.
- Diversified distribution channels.
- Operational efficiency.
Q1-FY2026 Performance Snapshot
The company provided a performance snapshot for Q1-FY2026 with these highlights:
- APE: ₹18.64 billion (Year-on-Year growth: -5.0%).
- VNB Margin: 24.5%
- Profits after Tax: ₹3.02 billion (Year-on-Year growth: 34.2%).
- Solvency Ratio: 212.3%
Product and Channel Mix
The product mix in Q1-FY2026 is characterized by:
- Linked products: 47%
- Non-linked products: 22%
- Protection: 22%
Distribution channels include:
- Agency: 25%
- Direct: 13%
- Bancassurance: 30%
Persistency and Customer Centricity
The company emphasizes customer service and persistency. 13M persistency reached 86.0% as of June 30, 2025. Also noted is a high claim settlement ratio, with digital transformation improving customer journeys, with ~53% of policies issued using digital KYC and ~54% of savings policies being issued on the same day in Q1-FY2026.
Source: BSE