ICICI Pru Life Q1 Result: Net profit jumps 28% YoY to Rs 386 crore

ICICI Prudential Life Insurance on Wednesday reported a 28 per cent rise in net profit to Rs 386 crore for the first quarter ended June 2026, primarily driven by improved surplus generation in policyholders' in-force book coupled with lower strain from new businesses.

The private-sector insurer reported a net profit of Rs 302 crore in the April-June period of FY26.

Net premium income of the insurance firm rose to Rs 9,749 crore at the end of the June quarter of FY27, from Rs 8,503 crore in the corresponding period of FY26, ICICI Prudential Life said in a regulatory filing.


New business premium grew by 21 per cent to Rs 4,866 crore in the first quarter of the current fiscal, compared to Rs 4,012 crore in the year-ago period, on the back of 13.2 per cent growth in the number of policies, it said.

Total revenue of the insurer rose to Rs 28,395 crore, up from Rs 25,320 crore in the same quarter of the preceding financial year.

The insurance firm's assets under management (AUM) stood at Rs 3.34 lakh crore as on June 30, 2026.

The company's net worth was Rs 14,375 crore at the end of June 2026. The solvency ratio improved to 225.4 per cent against the regulatory requirement of 150 per cent.

The Board of Directors, at its meeting held on July 6, approved the proposal to change the company's name to 'ICICI Life Insurance Ltd', pending IRDAI approval.

The proposed name reflects the strength, trust and legacy associated with the ICICI franchise, according to the company.