ICICI Prudential Life Insurance Company has reported a substantial 58% increase in its net profit for the fourth quarter of fiscal year 2026 (Q4FY26). The insurer's profit surged to Rs 609 crore in the quarter ending March 31, 2026, compared to Rs 386 crore in the corresponding period a year ago.
Fiscal Year 2026 Performance Highlights
For the entire fiscal year 2026, ICICI Prudential Life recorded a Profit After Tax (PAT) of Rs 1,600 crore, marking a 34.6% year-on-year growth. The company's premium from new business received in Q4FY26 also saw a significant rise of 30.6% year-on-year, reaching Rs 9,719 crore.
The Annualised Premium Equivalent (APE) for FY26 grew by 16.4% year-on-year to Rs 10,641 crore. Notably, retail protection APE expanded by 32.3% year-on-year to Rs 791 crore in FY26, with the latter half of the fiscal year demonstrating robust growth of 50.9%.
The Value of New Business (VNB) for FY26 increased by 11% to Rs 2,629 crore, with the VNB margin standing at 24.7%.
Operational Metrics and Shareholder Return
Operationally, ICICI Prudential Life maintained a strong claim settlement ratio of 99.3% for FY26. The average turnaround time for non-investigated individual death claims was an impressive 1.1 days. Persistency ratios remained solid, with 84.5% for the 13th month and 71.8% for the 49th month.
As of March 31, 2026, the company's Assets Under Management (AUM) stood at Rs 3.14 lakh crore. The solvency ratio remained robust at 227.3%, comfortably exceeding the regulatory requirement of 150%.
In recognition of its performance, the company's board has recommended a final dividend of Rs 1.65 per equity share, each with a face value of Rs 10. This recommendation is subject to shareholder approval at the upcoming Annual General Meeting (AGM).