ICICI Prudential Life Insurance’s Annualized Premium Equivalent Down by 5% in June Quarter
By Ankur Chandra | Published at: Jul 10, 2025 05:00 PM IST
Mumbai, July 10, 2025 – ICICI Prudential Life Insurance Company Ltd (NSE: ICICIPRULI) reported a 15% YoY growth in Annualised Premium Equivalent (APE) for FY2025, reaching ₹104.07 billion. Its annualized premium income in June quarter came down year-on-year by 5%.
Key Financial Highlights
| Metric | FY2025 | YoY Growth |
|---|---|---|
| APE | ₹104.07 bn | 15.0% |
| RWRP | ₹83.07 bn | 15.2% |
| VNB | ₹23.70 bn | 6.4% |
| Total Premium | ₹489.51 bn | 13.2% |
| Profit After Tax | ₹11.89 bn | 39.6% |
| Assets Under Management | ₹3,093.59 bn | 5.2% |
| Embedded Value (EV) | ₹479.51 bn | 13.3% |
| ROEV | 13.1% | – |
Persistency ratios also remained strong, with 13th month persistency at 89.1%, while the claim settlement ratio improved to 99.3% in FY2025.
Q1 FY2026 Snapshot
| Metric | Q1 FY26 | YoY Change |
|---|---|---|
| RWRP | ₹13.56 bn | -13.0% |
| APE | ₹18.64 bn | -5.0% |
| Retail APE | ₹15.12 bn | -9.2% |
| New Business Premium | ₹40.12 bn | +6.5% |
| New Business Sum Assured | ₹3,741.52 bn | +36.3% |
June 2025 saw further pressure on premium collections, with RWRP down 10.1% YoY and APE declining by 5.2% YoY, largely due to subdued performance in the agency and partnership distribution channels.
Segment-Wise Performance
The protection and annuity segments were standout performers:
- Retail Protection APE rose 25.1% YoY to ₹5.98 billion
- Annuity APE climbed 8.4% YoY to ₹8.75 billion
- Sum Assured under new business surged 36.3% to ₹3,324.49 billion
| Segment | APE (FY25) | YoY Growth |
|---|---|---|
| Linked | ₹50.26 bn | 28.5% |
| Non-linked | ₹22.06 bn | -5.6% |
| Annuity | ₹8.75 bn | -8.2% |
| Retail Protection | ₹5.98 bn | +25.1% |
Channel-Wise Growth
ICICI Prudential’s proprietary distribution channels (agency and direct) collectively accounted for over 50% of retail APE, highlighting the company’s successful diversification strategy.
| Channel | APE (FY25) | YoY Growth |
|---|---|---|
| Agency | ₹30.12 bn | +14.2% |
| Direct | ₹14.94 bn | +17.0% |
| Bancassurance | ₹30.64 bn | +18.2% |
| Partnership Distribution | ₹11.35 bn | -3.2% |
Management Commentary
The company attributed its VNB growth to a balanced approach across product lines and a strategic focus on retail protection and annuities. “Our proprietary channels and continued investment in technology and analytics helped deliver customer-centric offerings with speed and efficiency,” the company stated in its investor presentation.
Strategic Outlook
Despite near-term softness in premium growth, ICICI Prudential is confident about its long-term growth trajectory, supported by:
- Revival in non-linked business in Q4 FY2025
- Deepening partnerships across 48 banks and 1,300+ distributors
- Expansion of annuity offerings and health-focused riders
- 91 million lives covered and over ₹3.1 trillion in assets under management
The insurer maintained a solvency ratio of 212.2% and reported zero NPAs since inception, reflecting strong balance sheet prudence.
ICICI Prudential Life Insurance Company Stock Performance
ICICI Prudential Life Insurance Company closed at ₹673.90 on July 10, 2025, which represents a 0.95% dip in the National Stock Exchange. ICICI Prudential Life Insurance Company shares have seen a 1.99% gain over the last year, a 2.14% increase year-to-date, and a 5.70% gain in the previous month.
About ICICI Prudential Life Insurance Company
ICICI Prudential Life Insurance is a well-known name in India’s private life insurance space. Backed by ICICI Bank and Prudential Corporation Holdings Ltd, the company brings together local trust and global expertise. It offers a wide range of protection and savings plans tailored to different life stages, helping individuals plan for their future with confidence. The company is listed on both the NSE and BSE.
REF: https://nsearchives.nseindia.com/corporate/ICICIPRULI_10072025113433_SE_monthly_business_presentation_June_2025.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
