Latest news with #ICICIPrudentialLifeInsuranceCompany
Business Standard
17 hours ago
- Business
- Business Standard
ICICI Prudential Life Insurance Company consolidated net profit rises 34.17% in the June 2025 quarter
Sales rise 7.98% to Rs 8503.19 croreNet profit of ICICI Prudential Life Insurance Company rose 34.17% to Rs 300.99 crore in the quarter ended June 2025 as against Rs 224.34 crore during the previous quarter ended June 2024. Sales rose 7.98% to Rs 8503.19 crore in the quarter ended June 2025 as against Rs 7874.66 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 8 OPM %2.500.43 -PBDT390.14271.02 44 PBT390.14271.02 44 NP300.99224.34 34 Powered by Capital Market - Live News
Business Standard
a day ago
- Business
- Business Standard
ICICI Prudential rises as Q1 PAT gains 34% YoY to Rs 302 crore
ICICI Prudential Life Insurance Company rose 1.24% to Rs 679.45 after the company reported a 34.02% surge in standalone net profit to Rs 302.08 crore in Q1 FY26 as against Rs 225.40 crore posted in Q1 FY25. However, total income declined marginally 0.54% YoY to Rs 25,320.15 crore in the quarter ended 30 June 2025. The net premium income for Q1 FY26 rose by 7.98% year-on-year to Rs 8,503.19 crore. The first-year gross premium income fell by 11.24% YoY to Rs 1,445.42 crore. Meanwhile, renewal premium income jumped 9.45% YoY to Rs 4,941.65 crore, and single premium income saw a rise of 19.94% to Rs 2,566.97 crore. Net commission stood at Rs 984.92 crore during the quarter, registering a growth of 4.16% YoY. The value of new business (VNB), which represents the present value of future profits, stood at Rs 457 crore with a VNB margin of 24.5% for Q1 FY26. The total Annualised Premium Equivalent (APE) stood at Rs 1,864 crore for Q1 FY26. The companys retail New Business Sum Assured grew by 31.5% year-on-year to Rs 77,750 crore in Q1 FY26. Annuity business grew at a four-year CAGR of 15% in Q1 FY26. Retail protection business APE registered a strong growth of 24.1% year-on-year from Rs 1.12 billion in Q1-FY2025 to Rs 1.39 billion for Q1-FY2026. New Business Sum Assured (NBSA) grew by 36.3% year-on-year from Rs 2,72,468 crore in Q1 FY25 to Rs 3,71,452 crore in Q1 FY26. The companys new business received a premium added 6.4% to Rs 4,012 crore, while total premium collections increased 8.1% to Rs 8,954 crore. The assets under management (AUM) rose 5.1% to Rs 3,24,489 crore in Q1 FY26 from Rs 3,08,875 crore in Q1 FY25. The cost-to-total premium ratio dropped to 21.2% from 24% a year earlier. Within the savings line of business, the metric improved to 14.1% from 16.8%. From a regulatory perspective, the solvency ratio strengthened to 212.3%, well above the IRDAI-mandated 150%. The companys net worth also rose to Rs 12,553 crore from Rs 11,291 crore last year. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, In line with our strategy to place our customers at the center of everything we do, simplifying our products and processes, strengthening our distribution network, aligning our cost structures with our product portfolio and proactively managing business risks, our Q1-FY2026 performance demonstrates the strength and resilience of our business model. Our profit after tax grew by 34.2% year-on-year to Rs 302 crore in Q1-FY2026 and our VNB stood at Rs 457 crore with a margin of 24.5%. We reported a total premium growth of 8.1% year-on-year in Q1-FY2026 on the back of our extensive distribution and comprehensive product suite. Protection continues to remain at the heart of our business strategy and we registered a strong growth of 24.1% year-on-year in our retail protection business. Furthermore, our total New Business Sum Assured grew by 36.3% year-on-year in the same period. Our customer-centric approach resulted in 54% of our policies being issued on the same day for the savings line of business. Our claim settlement ratio of 99.6%, with an average turnaround time of 1.1 days for non-investigated individual death claims, reinforces our commitment towards transparency and reliability. Notably, the results of our cost optimization initiatives have led to an improvement in our cost-to-premium for the savings line of business by 270 bps to 14.1% in Q1-FY2026. Risk management continues to be an integral part of our approach to business with a focus on right selling, sourcing and onboarding, reflected by our strong solvency ratio that stood at 212.3% in Q1-FY2026 and zero NPA since inception. Our 13th-month persistency ratio stood at 86% in Q1-FY2026, exemplifying the quality of our business. We will continue to work on our strengths, that is, customer centricity, product leadership, extensive distribution network and business excellence, aided by the building blocks of people, digitalisation and analytics to help us achieve our core objective of growing the absolute VNB. 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.
Mint
2 days ago
- Business
- Mint
ICICI Pru Life Q1 results: Net profit rises 34% YoY to ₹302.08 crore
ICICI Prudential Life Insurance Company on Tuesday reported a net profit growth of 34% for the quarter ended June 30, 2025, at ₹ 302.08 crore, compared to ₹ 225.4 crore in the year-ago period. In its exchange filing, the company stated that the increase was attributed to reduced new business strain along with improved investment income from shareholder investments. The company's net premium income for the reported quarter grew by 8% YoY to ₹ 8,503 crore, versus ₹ 7,875 crore posted in the corresponding quarter of the previous financial year. 'ICICI Prudential Life reported a total premium growth of 8.1% year-on-year in Q1-FY2026 on the back of its extensive distribution and comprehensive product suite,' said the company in an exchange filing. The value of new business (VNB) for Q1-FY2026 was recorded at ₹ 457 crore, down 3.2% year-on-year. With an annual premium equivalent (APE) of ₹ 1,864 crore, the VNB margin was reported at 24.5%. 'In line with our strategy to place our customers at the centre of everything we do, simplifying our products and processes, strengthening our distribution network, aligning our cost structures with our product portfolio and proactively managing business risks, our Q1-FY2026 performance demonstrates the strength and resilience of our business model,' said Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, in an exchange filing. Additionally, the cost-to-premium ratio enhanced from 24.0% in Q1-FY2025 to 21.2% in Q1-FY2026, while the cost-to-premium for the savings segment improved from 16.8% to 14.1%. The company is actively pursuing several cost optimization strategies to align the cost structure with the product offerings. As of June 30, 2025, the assets under management by ICICI Prudential Life Insurance amounted to ₹ 3.2 lakh crore. ICICI Pru Life share price today opened at ₹ 672.65 apiece on the BSE, the stock touched an intraday high of ₹ 693 per share, and an intraday low of ₹ 659.80 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, ICICI Pru Life share price has witnessed volatile swings following its quarterly earnings announcement. However, the overall chart structure remains positive, with prices forming a higher top–higher bottom pattern. On the downside, strong support is seen around ₹ 640, aligning with the 200-day simple moving average (200DSMA), while immediate resistance is placed near ₹ 680, which coincides with the previous swing high. A buy-on-dips strategy is preferred for this counter, and a decisive breakout above ₹ 680 could potentially propel the stock towards ₹ 750.
Business Standard
17-06-2025
- Business
- Business Standard
ICICI Prudential Life Insurance Company allots Equity shares
Under ESOP ICICI Prudential Life Insurance Company has allotted 61,360 equity shares of face value of Rs.10 each on June 17, 2025, under ICICI Prudential Life Insurance Company Limited - Employees Stock Option Scheme (2005) and 19,748 equity shares of face value of Rs.10 each, under ICICI Prudential Life Insurance Company Limited - Employees Stock Unit Scheme (2023).
Time of India
22-05-2025
- Business
- Time of India
Promoters sell shares worth Rs 1,231 crore in KPR Mill
Shares of KPR Mill fell 2.8% to close at `1,195 on BSE on Wednesday. ICICI Prudential Life Insurance Company was among the buyers in the deal. As of March 31, KPD Sigamani, K P Ramasamy and P Nataraj held 20.34% stakes each in the company. Shares of KPR Mill fell 2.8% to close at `1,195 on BSE on Wednesday. Tired of too many ads? Remove Ads MUMBAI: Promoters sold shares of KPR Mill worth Rs 1,231 crore through bulk deals on BSE Wednesday. The promoters — KPD Sigamani, K P Ramasamy and P Nataraj—sold a total of 1.08 crore shares at about Rs 1,140 apiece. ICICI Prudential Life Insurance Company was among the buyers in the deal. As of March 31, KPD Sigamani, K P Ramasamy and P Nataraj held 20.34% stakes each in the company . Shares of KPR Mill fell 2.8% to close at `1,195 on BSE on Wednesday.
