Private sector insurer ICICI Prudential Life Insurance on Tuesday reported a 19.82 per cent year-on-year jump in its standalone net profit to ₹390.20 crore in the third quarter this fiscal, backed by higher investment income from shareholders’ funds.
The insurer had registered a net profit of ₹325.65 crore in the third quarter last fiscal.
Its Value of New Business (VNB), present value of all future profits to shareholders measured at the time of writing of the new business contract, during the third quarter of FY26 rose to ₹615 crore from ₹517 crore in the corresponding period of FY25, registering an 18.96 per cent y-o-y increase.
During the period, investment income from shareholders’ accounts saw a 54.24 per cent y-o-y growth at ₹279.17 crore as against ₹181 crore in Q3FY25, according to a stock exchange filing.
During the period under review net premium income, however, fell 3.69 per cent y-o-y at ₹11809.26 crore compared to ₹12261.37 crore in the year-ago period.
The first-year premium increased 8.86 per cent y-o-y at ₹2081.13 crore, whereas renewal premium rose 5.9 per cent y-o-y to ₹6593.89 crore for the period under review.
Single premium, however, witnessed a decline of 21.56 per cent y-o-y to ₹3551 crore in the third quarter of the current financial year.
The insurance company’s Annualised Premium Equivalent (APE) grew 3.57 per cent y-o-y at ₹2525 crore for the third quarter of FY26 compared to ₹2438 crore for the corresponding period of FY25.
The retail protection APE grew strongly by 40.8 per cent y-o-y from ₹147 crore in Q3FY25 to ₹207 crore in Q3FY26, in part aided by the implementation of recent GST reforms.
Consequently, the retail sum-assured also registered a strong growth of 51.6 per cent y-o-y in the same period, the life insurer said .The number of policies sold increased by 11.7 per cent year-on-year in the period.
During the third quarter this fiscal, the insurer’s expenses of management (EoM) rose to 19.3 per cent as against 16.4 per cent in the corresponding period last fiscal, mostly due to the lack of input tax credit (ITC) in the new GST regime which came into effect from September 22, 2025.
The assets under management of the company grew by 6.5 per cent year-on-year from ₹3,104.14 billion at December 31, 2024, to ₹3,307.29 billion at December 31, 2025.
The life insurance company’s net profit increased from ₹803 crore for the first nine months of FY25 to ₹992 crore in the same period of FY26, a growth of 23.5 per cent y-o-y. During April-December, 2025, net premium earned increased by 4.1 per cent at ₹32156 crore from ₹30890 crore in the year-ago period.
VNB, which is the measure of profitability for a life insurance company, stood at ₹1664 crore with a margin of 24.4 per cent in 9MFY26.
Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said the company’s 9MFY26 performance reflected its ongoing commitment to increasing profitability through balanced business growth.
“ The recent ‘0 per cent GST reform’ on individual policies has significantly aided this vision, with results clearly visible in the strong performance of our core retail protection segment. In Q3-FY2026, this segment registered a strong 40.8 per cent year-on-year growth. Consequently, the retail sum assured, i.e., the total life cover chosen by our retail customers, witnessed robust year-on-year growth of 51.6 per cent during the quarter,” he added.
On Tuesday, ICICI Prudential Life Insurance’s shares ended the day at ₹682.20 apiece on BSE, up 0.35 per cent from the previous close.
Published on January 13, 2026
