ICICI Prudential spurts as Q4 PAT zooms 122% YoY to Rs 386 crore

ICICI Prudential Life Insurance Company rallied 5.36% to Rs 598 after the reported 122.31% surge in standalone net profit to Rs 386.29 crore in Q4 FY25 as against Rs 173.76 crore posted in Q4 FY24.

However, total income tumbled 30.79% YoY to Rs 15,637.51 crore in the quarter ended 31 March 2025.

The net premium income for Q4 FY25 rose by 10.68% year-on-year to Rs 14,788.46 crore. The first-year gross premium income fell by 8.05% YoY to Rs 2,709.15 crore. Meanwhile, renewal premium income jumped 9.27% YoY to Rs 9,209.44 crore, and single premium income saw a rise of 30.12% to Rs 4,913.04 crore.

Net commission stood at Rs 1,575.22 crore during the quarter, registering a marginal growth of 0.59% YoY.

The company reported a 39.6% jump in profit after tax at Rs 1,189 crore for FY25, driven by strong momentum in its retail protection business.

The value of new business (VNB), which represents the present value of future profits, stood at Rs 2,370 crore with a VNB margin of 22.8% in FY2025.

The total annualized premium equivalent (APE) grew by 15% year-on-year to Rs 10,407 crore in FY2025. Retail protection business APE grew by 25.1% year-on-year to Rs 598 crore in FY2025. Annuity business grew at a two-year CAGR of 31.4% in FY2025. The companys retail new business sum assured (NBSA) grew by 37% year-on-year to Rs 3.32 lakh crore in FY2025.

New business received premium grew by 24.9% YoY to Rs 22,583 crore in FY2025 from Rs 18,081 crore in FY2024.

The total premium increased by 13.2% YoY to Rs 48,951 crore in FY2025 from Rs 43,236 crore in FY2024.

The assets under management (AUM) rose 5.2% to Rs 3,09,359 crore in FY2025 from Rs 2,94,140 crore in FY2024.

Meanwhile, the company announced a final dividend of Rs 0.85 per equity share.

Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, We are pleased to announce that we have crossed 10,000 crore APE for the first time, marking a significant milestone in our growth journey. Notably, we have also provided insurance coverage to over 9 crore lives as of March 31, 2025. Our Retail Weighted Received Premium (RWRP) growth of 15.2% in FY2025 demonstrates our ability to deliver superior performance in a competitive landscape. This has resulted in a robust year-on-year growth of 39.6% in profit after tax to 1,189 crore for FY2025. Our FY2025 value of new business stood at 2,370 crore with a margin of 22.8%.

Our nimble multi-channel distribution allows us to adapt swiftly to the shifting macroeconomic conditions and launch products as per the customer demands. The same was demonstrated with the addition of ICICI Pru Gift Select, a non-par product with guaranteed income in January 2025, given the growing trend towards wealth preservation. Our retail protection and annuity APE registered a strong 2-year CAGR of 30% plus, reflecting our focus on these segments. Our 13th-month persistency ratio of 89.1% at FY2025 underscores the customers trust in the company.

It is also evident by our company topping the Net Promoter Score (NPS) across insurers for the third year in a row, as revealed in Hansa Researchs latest Life Insurance CuES 2025 report. We have an industry-leading claim settlement ratio of 99.3% in FY2025, with an average turnaround time of 1.2 days for non-investigated individual death claims. In line with our commitment to delivering value to our shareholders, our Embedded Value (EV) and AUM both have grown at a five-year CAGR of above 15% in FY2025, echoing the robustness of our financial foundation and long-term value creation capabilities.

Moving forward, we remain committed to enhancing customer experience through innovative product propositions, seamless onboarding, best-in-class servicing, and claims settlement. Our resilient balance sheet and strong solvency position provide the stability and foundation to support sustainable growth in the years ahead.

ICICI Prudential Life is promoted by ICICI Bank and Prudential Corporation Holdings, headquartered in the United Kingdom. The company offers an array of products in the protection and savings category that match the different life stage requirements of customers, enabling them to provide a financial safety net to their families as well as achieve their long-term financial goals.

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