ICICI Prudential Life Insurance Company reported a strong performance for the quarter ended March 31, 2026, with sharp growth in profitability and steady expansion across key operating metrics.
The company’s profit after tax (PAT) surged 57.8% year-on-year to ₹609 crore in Q4FY26, compared to ₹386 crore in the same quarter last year, driven by higher investment income from shareholders’ funds. For the full financial year FY26, PAT rose 34.6% YoY to ₹1,600 crore.
On the business front, new business received premium grew 30.6% year-on-year to ₹9,719 crore in Q4FY26, while the annualised premium equivalent (APE) stood at ₹10,641 crore for FY26, registering a growth of 16.4% YoY. Retail protection APE saw robust growth of 32.3% YoY to ₹791 crore in FY26, with H2FY26 witnessing a strong 50.9% YoY growth.
The company reported a Value of New Business (VNB) of ₹965 crore in Q4FY26, while for FY26, VNB grew 10.9% YoY to ₹2,629 crore, with a margin of 24.7%.
Operational metrics remained strong, with the claim settlement ratio at 99.3% and an average turnaround time of 1.1 days for non-investigated individual death claims in FY26. Persistency ratios stood at 84.5% (13th month) and 71.8% (49th month).
The insurer maintained a healthy balance sheet, with assets under management (AUM) at ₹3.14 lakh crore as of March 31, 2026. The solvency ratio stood at 227.3%, well above the regulatory requirement of 150%.
Embedded Value (EV) increased 10.5% YoY to ₹52,989 crore, with return on embedded value (RoEV) at 11.9% for FY26.
The company has proposed a final dividend of ₹1.65 per equity share for FY26, subject to shareholder approval.
Overall, the quarter reflects strong profitability growth supported by healthy premium growth and stable operating metrics.