April 15, 2025-
Performance highlights: FY2025
VNB grew by 6.4% to ₹ 2,370 crore in FY2025
Profit after Tax (PAT) registers a growth of 39.6% to ₹ 1,189 crore in FY2025
Strong RWRP growth of 15.2% in FY2025
Robust growth in retail protection of 25.1% and retail new business sum assured
of 37% in FY2025
13th month persistency of 89.1% at FY2025
Total in-force sum assured witnessed a growth of 15.6% to ₹ 39 lakh crore on
March 31, 2025
Final dividend of ₹ 0.85 per share declared
ICICI Prudential Life Insurance registered a strong growth of 39.6% in its Profit After Tax
(PAT) to 1,189 crore for FY2025. The Value of New Business (VNB), which represents
the present value of future profits, stood at 2,370 crore with a VNB margin of 22.8% in
FY2025.
The total Annualised Premium Equivalent (APE) grew by 15% year-on-year to 10,407
crore in FY2025. Retail protection business APE grew by 25.1% year-on-year to 598
crore in FY2025. Annuity business grew at a two-year CAGR of 31.4% in FY2025. The
Company’s retail New Business Sum Assured (NBSA) grew by 37% year-on-year to
3.32 lakh crore in FY2025. The total in-force sum assured, which is the quantum of life
cover taken by customers of the Company, grew by 15.6% year-on-year to 39.43 lakh
crore.
The Company has a well-diversified distribution network, ensuring its presence across
platforms and touchpoints preferred by different customer segments. Proprietary
channel which includes Agency and Direct together grew by 15.2% in FY2025.
In FY2025, APE contribution from agency, direct, bancassurance, partnership
distribution, and group channels stood at 28.9%, 14.4%, 29.4%, 10.9% and 16.4%
respectively.
The assets under management of the Company stood at 3.09 lakh crore as on March
31, 2025. This is an outcome of the trust reposed in the Company by customers, growth
in new business, strong persistency and robust fund management.
The Company’s robust risk management framework has enabled it to have a record of
zero non-performing assets since inception. The solvency ratio was 212.2% as on March
31, 2025, against the regulatory requirement of 150%.
The Board has approved a final dividend of 0.85 per equity share for FY2025.
The Company’s commitment to sustainability is central to its vision of building an
enduring institution that serves the protection and long-term saving needs of customers
with sensitivity. The Company continues to be the highest rated Indian insurer as per two
leading ESG rating agencies. The current ESG rating of ‘AA’ ascribed by MSCI makes the
Company, one of the top-rated life insurers in India.
Commenting on the results, Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life
Insurance said, “We are pleased to announce that we have crossed 10,000 crore APE
for the first time, marking a significant milestone in our growth journey. Notably, we have
also provided insurance coverage to over 9 crore lives as on March 31, 2025. Our Retail
Weighted Received Premium (RWRP) growth of 15.2% in FY2025, demonstrates our
ability to deliver superior performance in a competitive landscape. This has resulted in a
robust year-on-year growth of 39.6% in Profit After Tax to 1,189 crore for FY2025. Our
FY2025 Value of New Business stood at 2,370 crore with a margin of 22.8%.
Our nimble multi-channel distribution allows us to adapt swiftly to the shifting macro-
economic conditions and launch products as per the customer demands. The same was
demonstrated with the addition of ‘ICICI Pru Gift Select’, a non-par product with
guaranteed income in January 2025 given the growing trend towards wealth
preservation.
Our retail protection and annuity APE registered a strong 2-year CAGR of 30% plus,
reflecting our focus on these segments.
