ICICIPRULIICICI Prudential Life Insurance Company Ltd

ICICI Prudential Life Insurance Q2 FY27 Results: Standalone Net Profit ₹374 Crore on Total Income of ₹11,743 Crore

Earnings
Insurance

Blacklitt Research13 October 20262 min read

A stone bank building with tall columns and trees in front — Daderot, via Wikimedia Commons (CC0 1.0). Illustrative image.

ICICI Prudential Life Insurance reported standalone total income of ₹11,742.65 crore and net profit of ₹374.22 crore for the quarter ended 30 Sep 2026.

Key highlights

Standalone

The company on its own, without its subsidiaries

Total income: ₹11,743 crore, down 2.3% YoY, down 58.6% QoQ
Net profit: ₹374 crore, up 25.0% YoY, down 3.1% QoQ
Value of new business: ₹1,283 crore, up 22.3% YoY, at a margin of 26.0% against 24.5%

Summary

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	11,743	12,016	-2.3%	28,395	-58.6%
Gross premium income	21,457	17,119	+25.3%	19,752	+8.6%
	374	299	+25.0%	386	-3.1%
Profit before tax	435	347	+25.4%	431	+1.0%
Net profit margin	3.19%	2.49%	+0.70 pp	1.36%	+1.83 pp

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Accounting profit rose 25% and the new-business measures rose by a similar amount. Profit after tax was ₹374.22 crore against ₹299.26 crore, and profit before tax ₹435.32 crore against ₹347.01 crore, so tax took about 14% of profit before tax in both quarters (derived). Total income fell 2.3% to ₹11,742.65 crore, but a life insurer's total income includes investment gains that swing with markets (it was ₹28,394.90 crore in June), so it says little about the business; the company's own figures are more useful.

The company's measures: the value of new business, an estimate of the value of the policies sold, rose 22.3% to ₹1,283 crore, with a margin of 26.0% against 24.5%. New business received premium grew 25.0% to ₹11,821 crore and the annualised premium equivalent grew 15.1% to ₹4,935 crore. Retail protection APE grew 47.2% to ₹455 crore and annuity APE 50.0% to ₹324 crore, and retail new business sum assured rose 34.9% to ₹2.32 lakh crore. These are the company's own metrics, not accounting figures.

Embedded value was ₹56,669 crore, up 12.2%, and assets under management ₹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 claim settlement ratio for the half year was 99.3%. For H1 FY27 profit after tax is ₹760 crore against ₹601 crore (+26.5%), and the quarter's profit is 3.1% lower than June's ₹386.18 crore. The company notes that the half year was marked by a challenging macro environment. The Chief Operating Officer, Mr. Sidharatha Mishra, was appointed an additional director from 14 October 2026.

Inference

ICICI Prudential Life's profit and new business value both grew at about a quarter, and the margin on new business improved by 1.5 percentage points.

The filing gives no guidance, and total income, which includes investment gains, moves with markets and is a poor guide to the quarter's performance.

Reference: Original filing (PDF)

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