ICICI Life Insurance Limited has announced a 26.5% year-on-year increase in profit after tax (PAT) to ₹760 crore for the first half of FY2027. The company’s Board of Directors approved and adopted the financial results for the quarter ended September 30, 2026.
New business premium grew 25% year-on-year to ₹11,821 crore, while the value of new business (VNB) increased 22.3% to ₹1,283 crore, with a VNB margin of 26%. The retail protection segment recorded 47.2% growth and the annuity segment expanded 50%, taking retail sum assured up 34.9% to ₹2.32 lakh crore.
Commenting on the performance, Sidharatha Mishra, Chief Operating Officer of ICICI Life Insurance Limited, said customer centricity remained central to the company’s strategy. He highlighted protection and annuity, its diversified distribution network, customer-focused products, service quality and strong risk and capital metrics as key priorities for sustainable VNB growth while balancing profitability and prudence.
The company reported a claim settlement ratio of 99.3%, with an average turnaround time of 1.1 days for non-investigated claims. It settled ₹2,627 crore in death claims and paid ₹8,634 crore in maturity and survival benefits during H1-FY2027.
Additionally, 54% of savings policies were issued on the same day. The cost-to-premium ratio, excluding GST, declined 30 basis points year-on-year to 18.3%, while the savings cost-to-premium ratio fell 90 basis points to 11.6%.
The company’s renaming to ICICI Life Insurance Limited marks a milestone in its 25-year journey of serving more than 20 crore Indians, guided by its “HarKalAasaan” commitment.
