ICICI Prudential Life Share Price Declines 8.68%; Posted PAT Growth of 18.3% in 9M FY2025 Results

ICICI Prudential Life Insurance Company Ltd announced its financial results for the quarter and nine months ended December 31, 2024.

Key Financial Highlights

For the first nine months of FY 2025, ICICI Prudential Life Insurance reported a 18.3% year-on-year growth in Profit After Tax (PAT), reaching ₹803 crore.

The company also recorded a healthy growth in its Value of New Business (VNB), which rose by 8.5% to ₹1,575 crore. The VNB margin stood strong at 22.8%, reflecting the company’s robust performance in the life insurance sector.

Additionally, the total Annualised Premium Equivalent (APE) grew by 27.2% compared to the same period last year.

Business Growth and Capital Strength

ICICI Prudential Life’s retail protection business was a key contributor to growth, with APE rising by 24.2% to ₹426 crore in 9M FY2025. The annuity business also saw a substantial increase of 81.7%, with APE reaching ₹616 crore.

In Q3 FY2025 alone, the retail protection segment saw a remarkable 40% growth in APE. The retail New Business Sum Assured (NBSA) grew by 39.2% year-on-year to ₹2.28 lakh crore. Moreover, the total In-force Sum Assured surged by 17.0% to ₹37.78 lakh crore.

The company’s assets under management (AUM) stood at ₹3.10 lakh crore as of December 31, 2024. ICICI Prudential Life’s strong solvency ratio of 211.8% exceeds the regulatory requirement of 150%. The company also raised ₹1,400 crore through the issuance of non-convertible debentures.

Commenting on the performance, the MD and CEO of ICICI Prudential Life Insurance, Mr Anup Bagchi, said, “Our focus on aligning with the customer demand has helped us outperform the industry’s premium growth for five consecutive quarters. We have delivered a 31.4% year-on-year Retail Weighted Received Premium (RWRP) growth in 9M-FY2025, on the back of an increase of 14.4% in the number of policies sold.”

He further added, “We recently launched ‘ICICI Pru Wish’, the life insurance industry’s first health plan designed exclusively for women. Another industry-first product proposition we offered in the regular pay annuity segment was ‘ICICI Pru Guaranteed Pension Plan Flexi’ with the ‘Increasing Income’ feature enabling customers to manage inflation. Our customer-focused approach has enabled us to build simplified processes across the policy life cycle. Our 13th-month persistency ratio of ~90% at 9M FY2025, underscores the customers’ trust in the Company.”

Conclusion 

ICICI Prudential Life Insurance continues demonstrating financial performance with growth in key metrics such as PAT, VNB, and APE.

On January 22, 2025, ICICI Prudential Life Insurance Company share price (NSE: ICICIPRULI) opened at ₹620.00, down from its previous close of ₹635.55. At 10:03 AM, the share price of ICICI Prudential Life Insurance Company was trading at ₹580.40, down by 8.68% on the NSE.

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