ICICI Prudential Life reported H1-FY2026 total premium up 9.2% to ₹ 21,251 Cr. PAT rose 26% to ₹ 601 Cr, with VNB at ₹ 1,049 Cr (24.5% margin). Embedded Value grew 9.7% to ₹ 50,501 Cr, and AUM reached ₹ 3,21,000 Cr.
New GST reforms (0% GST on individual policies) are expected to spur demand, despite an estimated 1% impact on Embedded Value for the existing book. Management is renegotiating commissions and optimizing costs; cost-to-premium fell 280 bps to 19.2%. They are confident in leveraging product leadership and diverse distribution for sustainable absolute VNB growth, with H2 expected to be stronger. Solvency remains robust at 213.2%.
All announcements from ICICI Prudential Life Insurance Company Limited