ICICI Prudential Life Q2 FY26 result: Net profit jumps 18% to ₹296 cr

ICICI Prudential Life Insurance's net premium income increased 10.1 per cent Y-o-Y to ₹11,843 crore in the quarter, compared with ₹10,754 crore in Q2 FY25, and was up 39 per cent on a sequential basis

ICICI Prudential Life Insurance Company on Tuesday reported a consolidated net profit of ₹296 crore for the second quarter of the financial year 2025-26 (Q2 FY26), up 18 per cent from ₹250.99 crore in the same quarter last year. Sequentially, profit dropped marginally from ₹300.99 crore. 

 

The spike in profit was due to growth in non-market-linked products and lower expenses.

 

The company’s net premium income increased 10.1 per cent year-on-year (Y-o-Y) to ₹11,843 crore in the quarter, compared with ₹10,754 crore in Q2 FY25. On a sequential basis, net premium income jumped 39 per cent from ₹8,503.19 crore.

 

ICICI Prudential Life's annualised premium equivalent (APE) for the first half of FY26 (H1 FY26) stood at ₹4,286 crore with a two-year compound annual growth rate (CAGR) of 10.3 per cent, the company said in a BSE filing.  APE is the sum of annualised first-year regular premiums, plus 10 per cent weighted single premiums. Its total premium grew by 9.2 per cent Y-o-Y to ₹ 21,251 crore during the same period.

 

The insurer's expenses for the quarter stood at ₹2,152 crore, down 6 per cent from ₹2,289.89 crore in the Q2 FY25. Sequentially, however, the expenses soared 13 per cent from ₹1,891.48 crore.

 

ICICI Prudential Life's assets under Management (AUM) stood at ₹ 3.21 trillion as of September 30, 2025. 

 

During the quarter, the Centre also reduced the goods and services tax (GST) on health and life insurance from 18 per cent to nil as part of its new tax reforms. However, the impact of the same is expected to be visible in Q3 performance.

 

Anup Bagchi, managing director and chief executive officer (CEO) of ICICI Prudential Life Insurance, said, “We believe these reforms will usher in growth and be value accretive for all our stakeholders including our customers, our distributors and our company. The early trends indicate a positive response post the GST exemption on life insurance. We have observed growth in website traffic, both lead volumes and conversion rates across product segments, indicating enhanced customer traction".

 

"For us, protection is a focus area and notably, the retail protection segment has grown at a CAGR of 31 per cent for the last three years. New Business Sum Assured, which is the quantum of life cover taken by customers, grew by 19.3 per cent Y-o-Y to ₹ 6.77 trillion in H1 FY26, and at September 30, 2025, our total in-force sum assured stood at ₹ 42.16 trillion," he added.  Shares of ICIC Prudential Life Insurance closed at ₹597.3 apiece on the BSE on Tuesday.