ICICI Prudential Life Insurance Company Limited — PPTs, 13-05-2025: Investor Presentation

1. Financial Highlights:

ICICI Prudential Life Insurance posted strong growth with Annualized Premium Equivalent (APE) at ₹10,407 Cr, up 15% YoY, and Retail Weighted Received Premium (RWRP) rising 15.2% YoY to ₹8,307 Cr. New business premium grew 24.9% YoY to ₹22,583 Cr, alongside a 16.9% increase in new business sum assured to ₹1,19,440 Cr. Profit after tax increased 39.6% YoY to ₹1,189 Cr, supported by a 22.8% VNB margin and 13.1% Return on Embedded Value (ROEV). Assets under management reached ₹3,094 Bn, with embedded value up 13.3% to ₹47,951 Cr. Operational efficiency remained steady with cost ratios at 18.1% and persistency at 89.1% at 13 months. Claim settlement ratio stood at 99.3%.

2. Strategic Initiatives & Growth Drivers:

Focus remains on expanding the product suite covering life stages, including new protection and annuity enhancements such as an increasing annuity option and women-specific health plans. Growth is driven by proprietary channel expansion and micro-market penetration, enabled by investments in AI-powered underwriting, digital onboarding (~76% digital KYC), and streamlined servicing. ESG integration and operational excellence are key pillars for sustainable growth.

3. Business Developments:

Distribution expanded with 60,000+ new advisors and 200+ new partnerships, including 5 bank tie-ups with access to over 23,000 branches. The “ICICI Pru Stack” platform enhances partner collaboration and leverages analytics for agent activation and campaigns. Digital ecosystem upgrades enabled ~50% of savings policies issued same day, plus AI-driven frictionless claims and servicing via chatbots.

4. Market Position & Competitive Advantage:

The company continues to lead with a 22.3% YoY increase in RWRP, outpacing the industry’s 17.4%. Customer-centricity is reflected in top NPS rankings for three years, superior persistency, and best-in-class claim settlement. Strong product diversification, extensive distribution, and tech-enabled analytics underpin sustainable competitive differentiation.

5. Investor Implications:

ICICI Prudential presents positive growth potential supported by robust premium gains, margin improvement, and a healthy balance sheet with no NPAs and solvency above 210%. Key risks include maintaining persistency and cost control amid expansion. Its digital focus, product innovation, and ESG commitment position the company well for long-term value in India's growing insurance sector.