The results of two large private life insurers for the first quarter of 2025-26 (Q1FY26) were assessed by analysts as encouraging. A quick look at the two majors:
ICICI Prudential Life Insurance Company (ICICI Pru) reported a decline of 5 per cent year-on-year (Y-o-Y) in new business annualised premium equivalent (APE) to ₹1,860 crore in Q1FY26, impacted by base effect and slowdown in unit linked insurance plans (ULIPs). The value of new business (VNB) margin was 24.5 per cent, a gain of 50 basis points (bps) Y-o-Y. Absolute VNB declined 3 per cent Y-o-Y to ₹460 crore.
ICICI

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