ICICI Prudential Life Insurance reported a 39.6% year-on-year (YoY) jump in net profit to ₹1,189 crore for financial year ended March 31, 2025. 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 FY25. The board approved a final dividend of ₹0.85 per equity share for FY2025.
The total annualised premium equivalent (APE) grew 15% YoY to ₹10,407 crore in FY25. Retail protection business APE grew 25.1% YoY to ₹598 crore. Annuity business grew at a two-year CAGR of 31.4% in FY25.
The company said its retail new business sum assured (NBSA) grew 37% YoY to ₹3.32 lakh crore in FY25. The total in-force sum assured, which is the quantum of life cover taken by customers of the company, grew by 15.6% YoY to ₹39.43 lakh crore.
Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “Our retail weighted received premium (RWRP) growth of 15.2% in FY25, 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 FY25. Our FY25 value of new business stood at ₹2,370 crore with a margin of 22.8%,” he added.
Published – April 15, 2025 08:58 pm IST
