ICICI Prudential Life Insurance Company (ICICIPRULI) Q4 24/25 earnings summary

Executive summary

• Achieved double-digit growth in key business metrics for FY2025, with APE up 15% to ₹104.07 bn, total premium up 13.2% to ₹489.51 bn, and embedded value up 13.3% to ₹479.51 bn.

• Profit after tax rose 39.6% year-over-year to ₹11.89 bn (₹1,189 crore), supported by strong VNB and AUM growth.

• Maintained high operational standards with a claim settlement ratio of 99.3% and persistency ratios of 89.1% (13-month) and 69.5% (49-month).

• Embedded ESG principles, earning top industry ratings and awards, and expanded financial inclusion to 73.7 million lives.

• Continued focus on product innovation, digital transformation, and technology investments to enhance customer experience.

Financial highlights

• Value of New Business (VNB) grew 6.4% year-over-year to ₹23.70 bn (₹2,370 crore), with a margin of 22.8%.

• Retail new business sum assured increased 37% year-over-year to ₹3,324.49 bn.

• Assets under management rose 5.2% year-over-year to ₹3,093.59 bn (₹3,09,359 crore).

• Cost-to-premium ratio improved to 18.1%; cost-to-RWRP (savings) at 15.4%.

• Solvency ratio stood strong at 212.2% as of March 31, 2025.

Outlook and guidance

• Management aims to sustain VNB growth ahead of APE growth, leveraging diversified product and distribution mix.

• Focus on digital transformation, customer centricity, and ESG integration.

• Expectation of continued volatility in certain segments (e.g., MFI credit life), but confidence in product agility and channel adaptability.

• Medium-term industry APE growth expected in the 13%-15% range, with intent to outperform.

• Emphasis on product innovation, cost efficiency, and strengthening multi-channel distribution.