ICICI Prudential Life Q3 results: Profit jumps 19% to Rs 387 crore; VNB up 19%

ICICI Prudential Life Insurance Company reported their operational and financial performance for the third quarter ended December 31, 2025, with consolidated net profit rising over 19 per cent year-on-year to Rs 387.15 crore, compared with Rs 324.91 crore in the corresponding quarter last year. 

The private insurer’s performance was supported by steady growth in new business, improved profitability metrics and operating efficiencies, even as it completed 25 years of operations in India.

Profitability indicators showed a marked improvement during the quarter. The Value of New Business (VNB) increased 19 per cent year-on-year to Rs 615 crore from Rs 517 crore in Q3 FY25.

VNB margins expanded sharply to 24.4 per cent in Q3 FY26, up from 21.2 per cent a year ago, reflecting a favourable product mix and disciplined cost management.

New business volumes remained steady, with Total Annualised Premium Equivalent (APE) rising 4 per cent year-on-year to Rs 2,525 crore, compared with Rs 2,438 crore in the year-ago quarter.

While overall APE growth was modest, the quality of business improved, translating into higher margins.

The retail protection segment emerged as a key growth driver. Benefiting from the recent ‘0% GST reform’ on individual protection policies, Retail Protection APE surged 40.8 per cent year-on-year to Rs 207 crore. The momentum was also visible in protection coverage, with Retail New Business Sum Assured rising 51.6 per cent year-on-year to Rs 1.24 lakh crore

ICICI Prudential Life Insurance Company's MD & CEO, Anup Bagchi, said that our industry-leading claim settlement ratio of 99.3% in 9M-FY2026, attained with an average turnaround time of 1.1 days (non-investigative), highlights our dedication to keeping our word to our clients and their families.