ICICI Life’s first-half profit rises 26.5% to ₹760 crore; company renamed ICICI Life Insurance

ICICI Prudential Life Insurance Company Limited, renamed ICICI Life Insurance Limited, has reported results for the quarter and half year ended 30 Sep 2026. Profit after tax for the half year was ₹760 crore, up 26.5% from ₹601 crore a year earlier. For the September quarter, profit after tax was ₹374 crore, against ₹299 crore in the same quarter a year earlier and ₹386 crore in the June 2026 quarter.

The value of new business (VNB), a measure of the value of the policies sold in the period, rose 22.3% to ₹1,283 crore, with a VNB margin of 26.0% against 24.5% a year earlier. New business received premium grew 25.0% to ₹11,821 crore, and the annualised premium equivalent (APE) grew 15.1% to ₹4,935 crore. Retail protection APE grew 47.2% to ₹455 crore and annuity APE grew 50.0% to ₹324 crore.

Embedded value was ₹56,669 crore, up 12.2%, and assets under management stood at ₹3.29 lakh crore. The solvency ratio was 229.9%. The cost-to-premium ratio excluding GST fell 30 basis points to 18.3%, and the company reports a claim settlement ratio of 99.3% for the half year. Retail new business sum assured rose 34.9% to ₹2.32 lakh crore.

Mr. Sidharatha Mishra, the Chief Operating Officer, said protection and annuity remain at the heart of the company's long-term strategy. The company notes that the half year was marked by a challenging macro environment.

Inference

The figures show profit, new business value and premium all higher than a year earlier, and the VNB margin improved. VNB and embedded value are measures that life insurers use alongside accounting profit, since they try to capture the value of policies sold; they are the company's own metrics.

The filing does not give guidance for later periods. Shareholders may want to follow the mix of products, since protection and annuity are the segments the company highlights, and the solvency ratio, which shows the capital it holds against its obligations.