Mumbai: ICICI Prudential Life’s third quarter brought stronger growth, building on consistent gains from the first half of FY2026. With higher profits, better margins, and growing new business, the company appears on a stable growth path.
Profit climbs quarter after quarter
ICICI Prudential’s profit after tax in Q1-FY2026 stood at Rs 3.03 crore, rose to Rs 299 crore in Q2, and further jumped to Rs 390 crore in Q3. The Q3 result shows a 30 percent increase over the previous quarter, supported by stronger investment income. Compared to Rs 326 crore in Q3-FY2025, this is a 19.6 percent year-on-year gain.
Premiums and policies show mixed trends
While total premiums dipped slightly to Rs 122.26 crore in Q3 from Rs 122.97 crore in Q2, the number of policies sold rose 11.7 percent year-on-year in Q3. The annualised premium equivalent (APE) for Q3 reached Rs 2,525 crore, up from Rs 2,368 crore in Q2, reflecting improved retail sales. Retail protection APE rose to Rs 515 crore in Q3, up from Rs 463 crore in Q2.
Strong push in protection segment
Company leaders credited GST reforms and digital tools for helping push retail protection sales, which grew 40.8 percent in Q3. Anup Bagchi, MD & CEO, said this segment’s growth helped boost the total retail sum assured to Rs 1.24 lakh crore—a 51.6 percent jump over Q3 last year.
Efficiency improves despite cost pressure
ICICI Prudential also improved cost efficiency. Its cost-to-total premium ratio for the savings business improved to 12.7 percent in Q3 from 13.2 percent in Q2. The overall cost ratio stood at 19.4 percent, a slight rise from Q2’s 17.5 percent, driven by input tax credit loss, but offset by digital savings. With strong profit momentum, rising protection sales, and improving efficiency, ICICI Prudential seems well positioned heading into the final quarter of FY2026.
