Q1 2026 ICICI Prudential Life Insurance Company Ltd Earnings Call Transcript
Key Points
- ICICI Prudential Life Insurance Co Ltd (BOM:540133) reported a 34.2% year-on-year increase in profit after tax, reaching INR 3.02 billion.
- The company achieved a strong claim settlement ratio of 99.6%, with an average turnaround time of 1.1 days for non-investigated individual claims.
- Total premium grew by 8.1% year-on-year to INR 89.54 billion, indicating a steady increase in revenue.
- The solvency ratio remained robust at 212.3%, reflecting a strong and resilient balance sheet.
- The company has a diversified distribution network with over 240,000 agents and 49 bank partnerships, enhancing its market reach.
- Annualized Premium Equivalent (APE) declined by 5% year-on-year to INR 18.64 billion, with retail APE declining by 9.2% year-on-year.
- The linked business segment saw a decline of 13.6% year-on-year, impacted by market volatility.
- Proprietary channels, including agency and direct, declined by 18.1% year-on-year, primarily due to a high annuity base from the previous year.
- Annuity business declined by 53.3% year-on-year, attributed to a very high base effect from the previous year.
- Persistency rates showed minor declines, with the 13-month persistency at 86% and 49-month persistency at 69.8%.
Ladies and gentlemen, good day, and welcome to the ICICI Prudential Life Insurance Company Limited Q1 FY 2026 Earnings Conference Call. (Operator Instructions) I now hand the conference over to Mr. Anup Bagchi, MD and CEO of ICICI Prudential Life Insurance Company Limited. Thank you, and over to you, sir.
Thank you. Thank you. Good afternoon, and welcome to the results call of ICICI Prudential Life Insurance Company for the quarter ended June 30, 2025. I have several of my senior colleagues with me on this call. Amit Palta, Chief Products and Distribution Officer; Dhiren Salian, CFO; Chief Human Resources and operations; Deepak Kinger, Chief Risk and Governance Officer; Manish Kumar, Chief Investment Officer; Shouvik, Appointed Actuary; and Dhiraj Chugha, Chief Investor Relations Officer.
Let me take you through the key developments during the year and during the quarter. We express our sincere gratitude to Mr. Dilip Karnik, who has
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