ICICI Prudential Life Insurance Company Ltd.
ICICIPRULIFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
22 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 22 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20190123 | 2018-12-31 | yes | |
| TRANSCRIPT | 20190425 | 2019-03-31 | yes | |
| TRANSCRIPT | 20190724 | 2019-06-30 | yes | |
| TRANSCRIPT | 20220124 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220422 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220722 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221020 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230124 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230427 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230724 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231023 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240124 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240430 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240730 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250128 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250422 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250722 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251023 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260120 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260420 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260722 | 2026-06-30 | yes |
ICICIPRULI
files the life-insurance revenue and shareholders’ accounts. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | insurance life |
| Scope served | consolidated |
| Panels on this page | 5 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 464.50 |
| 52-week range | 457.6 – 688.45 |
| Return 1M | -8.92% |
| Return 3M | -5.41% |
| Return 1Y | -22.15% |
| Return 3Y | -19.61% |
| Return 5Y | -31.03% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-03-31
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Net premium | 5,422.00 |
| Income from investments | 2,961.00 |
| Income from investments, net | 10,865.00 |
| Commission, net | 5,181.00 |
| Operating expenses related to insurance business | 4,430.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.73 | -0.00 |
| institutions foreign | 0.10 | -0.01 |
| institutions domestic | 0.12 | 0.01 |
| mutual funds | 0.10 | 0.01 |
| public | 0.27 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 22 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Cash flow, as filed
| Line | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|
| Net cash from operating activities | 107,641.00 | -5,232.00 | -5,355.00 |
| Net cash from investing activities | 313,190.00 | 6,707.00 | 7,571.00 |
| Net cash from financing activities | 1,760.00 | -74.00 | -171.00 |
| Purchase of property, plant and equipment | -259.00 | 62.00 | 123.00 |
| Net increase in cash | 422,592.00 | 1,401.00 | 2,045.00 |
| con:CFO.BEFORE_TAX | 108,730.00 | -4,340.00 | -3,812.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | -335.00 | 218.00 | 582.00 |
| con:CF_OTHER.OPERATING | -1,424.00 | -674.00 | -961.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 69,333.00 | 149,273.00 |
| con:INVESTMENTS_SOLD | 0.00 | 70,284.00 | 142,718.00 |
| con:PPE_DISPOSALS | 2.00 | 2.00 | 1.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 201.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 |
Revenue account (policyholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Net premium | 5,477.00 | 789.00 | 1,379.00 | 1,306.00 | 5,422.00 |
| Income from investments | 2,968.00 | 682.00 | 822.00 | 734.00 | 2,961.00 |
| Income from investments, net | 22,819.00 | 16,649.00 | -227.00 | 10,746.00 | 10,865.00 |
| Commission, net | 4,859.00 | 985.00 | 1,273.00 | 1,238.00 | 5,181.00 |
| Operating expenses related to insurance business | 3,972.00 | 907.00 | 879.00 | 1,116.00 | 4,430.00 |
Profit and loss account (shareholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Income in the shareholders' account | 730.00 | 258.00 | 329.00 | 289.00 | 1,315.00 |
| Shareholders' other income | 31.00 | 9.00 | 9.00 | 10.00 | 159.00 |
| Transfer from the policyholders' account | 1,093.00 | 271.00 | 420.00 | -97.00 | 1,805.00 |
| con:EXTRAORDINARY_ITEMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit carried to the balance sheet | 6,670.00 | 6,848.00 | 7,144.00 | 7,531.00 | 8,155.00 |
| Final dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings per share, basic | 8.16 | 2.07 | 2.03 | 2.66 | 10.94 |
| Total income | 70,620.00 | 25,320.00 | 12,016.00 | 22,302.00 | 63,420.00 |
| Other income | 109.00 | 30.00 | 32.00 | 32.00 | 128.00 |
| Total expenses | 69,530.00 | 24,944.00 | 11,531.00 | 22,333.00 | 60,958.00 |
| con:OTHER_OPERATING_EXPENSES | 1,567.00 | 370.00 | 353.00 | 593.00 | 2,298.00 |
| con:INS.PROVISIONS_DOUBTFUL | 10.00 | 4.00 | 20.00 | 22.00 | 58.00 |
Funds and assets, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Other assets net of current liabilities | 4,860.00 | 3,814.00 | 4,515.00 | 3,805.00 | 4,646.00 |
| Total assets | 308,839.00 | 323,264.00 | 320,305.00 | 329,018.00 | 312,725.00 |
| Investments | 303,979.00 | 319,450.00 | 315,790.00 | 325,213.00 | 308,079.00 |
| Reserves and surplus | 10,555.00 | — | 11,097.00 | — | 12,311.00 |
| Borrowings | 2,600.00 | — | 2,600.00 | — | 2,595.00 |
| con:LOANS | 2,419.00 | — | 2,727.00 | — | 3,006.00 |
| Property, plant and equipment | 848.00 | — | 834.00 | — | 711.00 |
| Current assets | 6,990.00 | — | 5,157.00 | — | 7,938.00 |
| Current liabilities | 5,354.00 | — | 4,168.00 | — | 6,966.00 |
| con:PROVISIONS | 45.00 | — | 39.00 | — | 43.00 |
Solvency and underwriting ratios, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Solvency ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses of management ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_GROSS_NONLINKED_PAR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_NET_LINKED_PAR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 73.35 | 73.33 | 73.29 | 73.27 | 73.24 | 73.18 | 73.05 | 73.01 | 73.00 | 72.96 | 0.73 | 0.73 | 0.73 | 0.73 |
| Domestic institutions | 6.14 | 6.32 | 6.38 | 6.92 | 8.54 | 8.83 | 9.29 | 9.45 | 8.80 | 8.85 | 0.09 | 0.10 | 0.11 | 0.12 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 6.50 | 0.06 | 0.08 | 0.09 | 0.10 |
| Insurance companies | 1.00 | 1.34 | 1.22 | 0.91 | 1.65 | 1.49 | 1.25 | 1.29 | 1.51 | 1.61 | 0.02 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 15.21 | 15.43 | 15.51 | 14.73 | 13.36 | 13.23 | 12.98 | 12.78 | 13.25 | 13.12 | 0.13 | 0.11 | 0.11 | 0.10 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 26.65 | 26.67 | 26.71 | 26.73 | 26.76 | 26.82 | 26.95 | 26.99 | 27.00 | 27.04 | 0.27 | 0.27 | 0.27 | 0.27 |
| Non-institutional | 5.30 | 4.92 | 4.82 | 5.07 | 4.86 | 4.76 | 4.67 | 4.76 | 4.95 | 5.07 | 0.05 | 0.05 | 0.05 | 0.05 |
| Shares outstanding | 1438571396 | 1438858486 | 1439618396 | 1440055451 | 1440616221 | 1441903981 | 1444409881 | 1445209771 | 1445321756 | 1446167579 | 1446766669 | 1447742295 | 1449278261 | 1450784650 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Sumit Mohindra | Subsidiary- CEO | Any other transaction, Dividend paid, Remuneration | 25,859,343,000.00 | 7 |
| Amit Palta | Subsidiary- Nominee Director | Any other transaction, Dividend paid, Remuneration | 7,501,123,000.00 | 6 |
| Dhiren Salian | Chief Financial Officer | Any other transaction, Dividend paid, Remuneration | 2,566,439,000.00 | 6 |
| Sonali Chandak | Company Secretary | Any other transaction, Remuneration | 1,626,597,000.00 | 4 |
| ICICI Home Finance Company Limited | Fellow subsidiary | Any other transaction | 495,494,000.00 | 4 |
| Souvik Jash | Appointed Actuary | Any other transaction, Dividend paid, Remuneration | 316,348,000.00 | 5 |
| Anup Bagchi | Managing Director & CEO | Dividend paid, Remuneration | 31,649,000.00 | 2 |
| India Infradebt Limited | Promoter Group | Any other transaction | 28,575,000.00 | 3 |
| ICICI Prudential Pension Funds Management Company Limited | Subsidiary | Any other transaction, Investment | 20,143,000.00 | 8 |
| ICICI Prudential Asset Management Company Limited | Fellow subsidiary | Any other transaction, Dividend paid | 16,664,000.00 | 3 |
| Aparna Gupta | Relative of Executive Director of | Any other transaction | 5,000,000.00 | 1 |
| Arun Bagchi | Relative of Director | Any other transaction | 2,438,000.00 | 2 |
| M.S. Ramachandran | Non Executive Director, Independen | Any other transaction | 2,400,000.00 | 2 |
| Radhakrishnan Nair | Non Executive Director, Independen | Any other transaction | 2,250,000.00 | 2 |
| Vibha Paul Rishi | Non Executive Director, Independen | Any other transaction | 2,150,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-22 | Q1FY27 | Read the call | |
| 2026-04-20 | Q4FY26 | Read the call | |
| 2026-01-20 | Q3FY26 | Read the call | |
| 2025-10-23 | Q2FY26 | Read the call | |
| 2025-07-22 | Q1FY26 | Read the call | |
| 2025-04-22 | Q4FY25 | Read the call | |
| 2025-01-28 | Q3FY25 | Read the call | |
| 2024-10-29 | Q2FY25 | Read the call | |
| 2024-07-30 | Q1FY25 | Read the call | |
| 2024-04-30 | FYFY24 | Read the call | |
| 2024-01-24 | Q3FY24 | Read the call | |
| 2023-10-23 | Q2FY24 | Read the call | |
| 2023-07-24 | Q1FY24 | Read the call | |
| 2023-04-27 | Q4FY23 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY25 | Q2FY26 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY23 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | — | And we don't intend to pull back our capacity addition in agency. | — | — | — | — | — |
| Capital allocation | And quite a few profiles have been successful in terms of acquisition and licensing. | — | So, if you can help explain this, sort of how much of the product value proposition changed for the policyholders, or and how much of it is coming out… | — | — | I would much rather focus on what Kannan spoke about as what are we today; a diversified customer acquisition model with a varied distribution channel… | — | — |
| Costs | And my second question is if I look at your Cost-to-TWRP ratio for the savings business and again you give the first half and first quarter number but… | The cost to premium for savings line of business also reduced by 280 basis points to 12.7%. | Now, given the mix is changing and obviously having cost pressures, there have been significant impact on margins. | Our cost/premium stood at 19.8% and cost/TWRP stood at 27.8% in 9M-FY2025. Our cost/TWRP on the savings line of business stood at 16.8% in 9M-FY2025. … | — | Avinash, if I may just point or draw your attention to the current product regulations which already require that if there are any cost savings, they … | So, if I look at your overall cost structure, I think largely even in the savings line of business also we have improved as well as when I look at the… | — |
| Debt and cash | So, it does have an impact on cash flows. | — | — | At the same time what we really saw was cash flow as a benefit being really taking precedence, customers really valuing liquidity in the long-term ins… | — | It may still be a function of where my cash flow patterns are. | So how do you manage that investment versus operating deleverage? | — |
| Demand | But what is being currently sold in the market is the customer's demand for easy liquidity in the product. | Annuity CAGR for last 4 years stood at 11.9% in H1-FY2026. Within annuity, we continue to witness demand for single premium annuity products as fixed … | And non-participating products with moderation of customer IRR in the overall industry saw a bit of a compression on demand, which actually continued … | And what we're very clear on is we want to offer the products that customers’ demand. | So, over the years, we have drawn confidence from the fact that whenever there has been a change in the macro environment, our direct channels, our pr… | And from here if I actually worsen the proposition to customer then that may well be an adverse impact on demand that I don’t think the industry will … | So, I believe that now with an environment which is more volatile and the demand for guaranteed products may come back again, and now with their stren… | Are you seeing any increase in demand for non-par policies in this current environment? |
| Guidance | So, what is the outlook for this segment given where the competition is? | We express our sincere gratitude to the earlier representatives, Mr. Anuj Bhargava from ICICI Bank and Mr. Solmaz Altin from Prudential, for the guida… | So a bit of guidance because this margin dip suddenly is pretty big. | We would like to express our gratitude for his guidance during his tenure. | If you can help us understand, what kind of reforms should we expect from the industry, what could be the timelines and so on and so forth? | And second question is more on that the VNB margin and the VNB contribution to EV growth looking pretty strong, can we expect the EV compounding traje… | So, if I were to think about it, should we expect a base effect playing out in FY2026, at least in the first half? | Should we expect that they are mostly done? |
| Margin | First I wanted to understand a little bit, how to read this, how the margin development has been in the first half. | Cost to premium for savings line of business also reduced by 280 basis points to 12.7% in the same period. • PAT grew by 26% year-on-year to ₹ 606.01 … | So that means either the product value proposition for the policyholders have changed materially for the same set of products, or the overall cost, ac… | We have been investing in our capabilities, i.e., people, technology and process improvements which will help us deliver an operating leverage into th… | The fundamental point is, it's not the margin, it's growing the absolute business and therefore the absolute VNB and from a partner perspective, growi… | Our VNB margin for FY2023 stood at 32% as compared to 28% in FY2022. The contribution of VNB from non-linked savings products has increased to 53.4%. | If you can provide some more sort of colour that in terms of expenses, persistency, mortality, morbidity, where sort of assumption has kind of changed… | And then, sir, on the VNB margin side, if you could highlight, have all the persistency-led changes that you are seeing, you're experiencing, has that… |
| People | — | And if you can help with some sort of numbers, is this kind of cost reduction also coming because of rationalisation of headcount, if you can provide … | As you know, that gestation period for setting up capacity to deliver productivity takes a little time in agency, because the cycle involves not only … | — | — | — | — | — |
| Pricing | So, firstly, just wanted to understand on the annuity side, I think one of the competitors had highlighted that there are some concerns around the pri… | So, individual protection, till the time you don't take a price hike, it will have an implication. | While all of us have witnessed the hysteria around the guaranteed products in the month of March, but it also led to a lot of competition activity on … | Yes, the pricing of non-par, annuity, all those products linked to G-Sec yields were all corrected effective 1st October, something that we could not … | At all points in time, we keep assessing and this is business as usual for us, we keep assessing segments, we keep assessing the process, we keep asse… | But the bulk of the frequent process changes or the pricing changes we believe are behind us. | It's about 0.6%, which is a function of how the yield curves have moved through the year and the pricing of the products at various points in time. | We look to offer remuneration that is appropriate and in line with the product and the pricing that we have built that is accretive to both. |
| Revenue growth | Yes, on partnership distribution, first of all, this partnership distribution over the period of last 4 to 5 years has been delivering CAGR growth of … | But like I said, the elements that we have in terms of looking at granularly at all of the elements of operating expenses, we have been paying very cl… | But yes, the competitive pressure on the lower pricing meant that there was a pressure, not just on top line, but also on margins. | Now, let me talk about the “Key Performance Highlights.” • We delivered RWRP growth of 31.4% year-on-year in 9M-FY2025, outperforming both the private… | Then is it fair to say that now, given the distributions are broadly settled, whether it's ICICI Bank or others, we will be in a position to deliver a… | Overall, this has resulted in EV growth of 12.7% for FY2023 with closing EV at ₹ 356.34 billion. | You can see that the number come through in our retail sum assured growth of about 37% year-on-year for the year. | Or there any other challenges which are impacting the growth of this channel? |