New Delhi: ICICI Prudential Life Insurance Company on Tuesday reported a 34.6 per cent growth in profit after tax to Rs 1,600 crore for FY26. The company recorded a net profit of Rs 1,189 crore in FY25.
Value of New Business (VNB) increased by 10.9 per cent year-on-year to Rs 2,629 crore with a margin of 24.7 per cent. Its embedded value rose 10.5 per cent year-on-year to Rs 52,989 crore in FY26.
The company, in a statement, said the GST reforms implemented from September 2025 have made insurance policies more affordable, and its retail protection segment registered a strong 50.9 per cent year-on-year in FY26. The firm has proposed a final dividend of Rs 1.65 per share for FY26.
For the January-March quarter, the company’s PAT grew by 57.8 per cent year-on-year to Rs 609 crore in FY26. Its PAT in Q4 of FY25 was Rs 386 crore.
ICICI Prudential Life Insurance MD and CEO Anup Bagchi, “The total value of life cover stood at Rs 46.11 lakh crore on 31 March, 2026, highlighting the strong trust our customers have placed in us over the years”.