ICICI Prudential Life Insurance Company on Tuesday reported a net profit growth of 122% for the quarter ended March 31, 2025, at Rs 385 crore, compared to Rs 174 crore in the year-ago period. The company’s net premium income for the reported quarter grew by 11% YoY to Rs 16,369 crore, versus Rs 14,788 crore posted in the corresponding quarter of the previous financial year.
The profit after tax (PAT) rose 19% sequentially from Rs 324 crore in Q3FY25, while net premium income increased by 33% from Rs 12,261 crore in Q3FY25.
The company also announced a final dividend of Rs 0.85 per equity share.
For FY25, ICICI Prudential Life Insurance registered a 40% growth in PAT at Rs 1,189 crore, while 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%.
The total Annualised Premium Equivalent (APE) grew 15% YoY to Rs 10,407 crore in FY2025, with the retail protection business APE growing 25.1% YoY to Rs 598 crore. The annuity business grew at a two-year CAGR of 31.4% in FY2025. The company’s retail New Business Sum Assured (NBSA) grew 37% YoY to Rs 3.32 lakh crore. The total in-force sum assured, which is the quantum of life cover taken by customers of the company, rose 15.6% YoY to Rs 39.43 lakh crore.
Management Commentary
Commenting on the results, MD & CEO Anup Bagchi said APE crossed Rs 10,000 crore for the first time, marking a significant milestone in the company’s growth journey. “Our nimble multi-channel distribution allows us to adapt swiftly to shifting macroeconomic conditions and launch products as per customer demand. This was demonstrated with the launch of ‘ICICI Pru Gift Select’, a non-par product with guaranteed income, in January 2025, given the growing trend towards wealth preservation,” he said.
The company has provided insurance coverage to over 9 crore people as of March 31, 2025.
The company’s retail protection and annuity APE registered a strong two-year CAGR of over 30%, reflecting its focus on these segments.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The profit after tax (PAT) rose 19% sequentially from Rs 324 crore in Q3FY25, while net premium income increased by 33% from Rs 12,261 crore in Q3FY25.
The company also announced a final dividend of Rs 0.85 per equity share.
For FY25, ICICI Prudential Life Insurance registered a 40% growth in PAT at Rs 1,189 crore, while 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%.
The total Annualised Premium Equivalent (APE) grew 15% YoY to Rs 10,407 crore in FY2025, with the retail protection business APE growing 25.1% YoY to Rs 598 crore. The annuity business grew at a two-year CAGR of 31.4% in FY2025. The company’s retail New Business Sum Assured (NBSA) grew 37% YoY to Rs 3.32 lakh crore. The total in-force sum assured, which is the quantum of life cover taken by customers of the company, rose 15.6% YoY to Rs 39.43 lakh crore.
Management Commentary
Commenting on the results, MD & CEO Anup Bagchi said APE crossed Rs 10,000 crore for the first time, marking a significant milestone in the company’s growth journey. “Our nimble multi-channel distribution allows us to adapt swiftly to shifting macroeconomic conditions and launch products as per customer demand. This was demonstrated with the launch of ‘ICICI Pru Gift Select’, a non-par product with guaranteed income, in January 2025, given the growing trend towards wealth preservation,” he said.
The company has provided insurance coverage to over 9 crore people as of March 31, 2025.
The company’s retail protection and annuity APE registered a strong two-year CAGR of over 30%, reflecting its focus on these segments.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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