ICICI Pru Life Q4FY25 results: Net profit rises 122% to Rs 386 crore

ICICI Prudential Life Insurance’s (ICICI Pru Life's) net profit more than doubled to Rs 386.29 crore in the January–March quarter of FY25 (Q4 FY25) from Rs 173.8 crore in the year-ago period, supported by healthy growth in net premium income.

 

The net premium income of the country's third-largest private life insurer rose by 10.7 per cent year-on-year (Y-o-Y) to Rs 16,369.17 crore in the reporting quarter. The annualised premium equivalent (APE) of the insurer, though, slipped marginally by 3.12 per cent Y-o-Y to Rs 3,502 crore.

 

In FY25, the total APE grew by 15 per cent Y-o-Y to Rs 10,407 crore. Retail protection business' APE grew by 25.1 per cent Y-o-Y to Rs 598 crore in the financial year. Anup Bagchi, managing director and chief executive officer, ICICI Prudential Life Insurance, said, “We are pleased to announce that we have crossed Rs 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 (90 million) lives as on March 31, 2025. Our retail weighted received premium (RWRP) growth of 15.2 per cent in FY25 demonstrates our ability to deliver superior performance in a competitive landscape.”

 

 

Value of new business (VNB) — the measure of profitability for life insurers — increased by 2.45 per cent Y-o-Y to Rs 795 crore in Q4 FY25. The VNB margin of the insurer stood at 22.70 per cent as against 21.46 per cent in the year-ago quarter.

 

The insurer reported a loss of Rs 904.85 crore in investment income in Q4 FY25, as against a profit of Rs 7,265.3 crore in the same period last year. For FY25, total investment income halved to Rs 23,522 crore from Rs 47,931 crore in FY24.

 

The expenses of management (EoM) of the company reduced by 2.83 per cent Y-o-Y to Rs 2,477.7 crore, with net commission inching up marginally to Rs 1,575.22 crore. The EoM ratio of the life insurer was at 14.7 per cent as against 16.9 per cent in Q4 FY24.

 

The solvency ratio of ICICI Pru Life rose to 212.20 per cent, compared to 191.80 per cent in Q4 FY24.

 

The 13-month persistency ratio stood at 84.3 per cent in the recently concluded quarter, as against 87.4 per cent at the end of the January–March quarter of FY24. Similarly, the 61-month persistency stood at 61.9 per cent, as against 65.1 per cent.

 

The board has also recommended a final dividend of Rs 0.85 per equity share of face value Rs 10 each, subject to shareholders’ approval at the ensuing annual general meeting.