NE BUSINESS BUREAU
CHENNAI, APR 17
ICICI Prudential Life Insurance on Tuesday reported a surge in fourth-quarter profit, helped by strong demand for its group insurance offerings. It registered a strong growth of 39.6% in its Profit After Tax (PAT) to ₹1,189 crore for FY2025. The Value of New Business (VNB), which represents the present value of future profits, stood at ₹2,370 crore with a VNB margin of 22.8% in FY2025.
- VNB grew by 6.4% to ₹ 2,370 crore in FY2025
- Strong RWRP growth of 15.2% in FY2025
- Robust growth in retail protection of 25.1% and retail new business sum assured of 37% in FY2025
- Total in-force sum assured witnessed a growth of 15.6% to ₹ 39 lakh crore on March 31, 2025
- Final dividend of ₹ 0.85 per share declared
Its quarterly net premium income grew 11 per cent to ₹ 1,637 crore, driven by a 30 per cent jump in single premiums.
Demand for its market or unit-linked insurance plans (ULIP) dropped during the fourth quarter as India’s stock markets underwent a sharp correction.
In the previous quarters, demand for ULIPs rose consistently as the stock markets traded at record high levels.
The total Annualised Premium Equivalent (APE) grew by 15% year-on-year to ₹10,407 crore in FY2025. Retail protection business APE grew by 25.1% year-on-year to ₹598 crore in FY2025. Annuity business grew at a two-year CAGR of 31.4% in FY2025. The Company’s retail New Business Sum Assured (NBSA) grew by 37% year-on-year to
₹3.32 lakh crore in FY2025. The total in-force sum assured, which is the quantum of life cover taken by customers of the Company, grew by 15.6% year-on-year to ₹39.43 lakh crore.
The Company has a well-diversified distribution network, ensuring its presence across platforms and touchpoints preferred by different customer segments. Proprietary channel which includes Agency and Direct together grew by 15.2% in FY2025.
In FY2025, APE contribution from agency, direct, bancassurance, partnership distribution, and group channels stood at 28.9%, 14.4%, 29.4%, 10.9% and 16.4% respectively.
Commenting on the results, Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “We are pleased to announce that we have crossed 10,000 crore APE for the first time, marking a significant milestone in our growth journey. Notably, we have also provided insurance coverage to over 9 crore lives as on March 31, 2025. Our Retail Weighted Received Premium (RWRP) growth of 15.2% in FY2025, demonstrates our ability to deliver superior performance in a competitive landscape. This has resulted in a robust year-on-year growth of 39.6% in Profit After Tax to 1,189 crore for FY2025. Our FY2025 Value of New Business stood at 2,370 crore with a margin of 22.8%.
Our nimble multi-channel distribution allows us to adapt swiftly to the shifting macro- economic conditions and launch products as per the customer demands. The same was demonstrated with the addition of ‘ICICI Pru Gift Select’, a non-par product with guaranteed income in January 2025 given the growing trend towards wealth preservation.”
