ICICI Prudential Life Q3FY26 result: Net profit jumps 19% to ₹387 cr

ICICI Prudential Life's net premium income for the quarter dropped 3.7 per cent year-on-year at ₹11,809.26 crore from ₹12,261.37 crore in Q3FY25

ICICI Prudential Life Insurance Company on Tuesday reported a consolidated net profit of ₹387.15 crore for the third quarter of the financial year 2025-26 (Q3FY26), up 19 per cent from ₹324.91 crore in the same quarter last year. On a sequential basis, profit jumped 31 per cent from ₹295.83 crore.

 

However, the life insurer's net premium income for the quarter dropped 3.7 per cent year-on-year (Y-o-Y) at ₹11,809.26 crore from ₹12,261.37 crore in Q3FY25. Sequentially, net premium income was marginally down from ₹11,843.10 crore. The annualised premium equivalent (APE), however, grew 3.6 per cent Y-o-Y to ₹2,525 crore. APE is the sum of annualised first-year regular premiums plus 10 per cent weighted single premiums.

 

"As a leading life insurer in the country, it is incumbent on us to enhance insurance penetration and density, to support the vision of 'Insurance for All’ by 2047. The recent '0 per cent GST reform' on individual policies has significantly aided this vision, with results clearly visible in the strong performance of our core retail protection segment," said Anup Bagchi, managing director & chief executive officer of ICICI Prudential Life Insurance.

 

"In Q3FY26, this segment registered a strong 40.8 per cent Y-o-Y growth. Consequently, the retail sum assured, i.e., the total life cover chosen by our retail customers, witnessed robust Y-o-Y growth of 51.6 per cent during the quarter," he added.

 

The company's value for new business stood at ₹615 crore for the quarter, supported by 9.9 per cent Y-o-Y growth in retail APE. Moreover, the number of policies sold increased by 11.7 per cent, the company said in a BSE filing.

 

Shares of ICICI Prudential Life Insurance were trading up 0.6 per cent at ₹683.80 apiece at 2.27 pm on the BSE on Tuesday.