ICICI Life Insurance saw a significant rise in its profits and value of new business (VNB) during the second quarter of the fiscal year 2027 (Q2 FY27). The company’s profit increased by 26.5% year-on-year (YoY) to ₹760 crore in the first half of FY27, mainly due to higher shareholders’ investment income and improved surplus generation from policyholders’ in-force book.
- Profit after tax (PAT) rose 24.8% YoY to ₹374.22 crore in Q2 FY27.
- Annualised premium equivalent (APE) increased 16.6% to ₹2,799 crore in Q2 FY27.
- Value of new business (VNB) grew 20.7% to ₹712 crore in Q2 FY27 with a margin of 25.43%.
- Assets under management (AUM) stood at ₹3.29 lakh crore as of September 30, 2026.
- Number of policies grew 10.6% YoY in H1 FY27, expanding the customer base.
What were the key financial results for ICICI Life Insurance in Q2 FY27?
During Q2 FY27, ICICI Life Insurance reported a standalone profit after tax (PAT) of ₹374.22 crore, up 24.8% from ₹299.96 crore in the same quarter last year. The company’s annualised premium equivalent (APE), which measures new business, rose 16.6% to ₹2,799 crore compared to ₹2,400 crore in Q2 FY26. The value of new business (VNB), indicating profitability of new policies, increased by 20.7% to ₹712 crore. The VNB margin improved to 25.43% from 24% the previous year.
How did ICICI Life Insurance perform in the first half of FY27?
In the first half of FY27, ICICI Life Insurance’s profit rose 26.5% YoY to ₹760 crore, compared to ₹601 crore in H1 FY26. The company’s VNB climbed 22.3% to ₹1,283 crore with a margin of 26%. The APE grew by 15.1% to ₹4,935 crore, supported by a 10.6% increase in the number of policies, reflecting steady growth in the customer base.
What factors contributed to the company’s growth?
The growth was primarily driven by higher shareholders’ investment income and improved surplus generation from the policyholders’ in-force book. The company also benefited from a well-diversified distribution network, innovative and customer-centric products, and strong risk and capital management. These strengths helped ICICI Life Insurance maintain profitability and expand its market presence.
What did the company’s leadership say about the results?
Sidharatha Mishra, Chief Operating Officer of ICICI Life Insurance, emphasized the company’s focus on customer centricity, protection, and annuity products. He highlighted the company’s resilience and commitment to sustainable VNB growth while balancing business, profitability, risk, and prudence. Mishra noted that the company aims to address underpenetrated insurance needs in India through its long-term strategy.
How did the stock market respond to the earnings report?
Following the earnings announcement, ICICI Life Insurance’s shares traded 1.39% higher at ₹453.20 per equity share as of 12:40 PM on October 14, 2026. The company’s total market capitalization stood at ₹65,769.97 crore, reflecting investor confidence in its performance and growth prospects.
Frequently Asked Questions
Q: What is Annualised Premium Equivalent (APE)?
A: APE measures the new business written by a life insurance company. It is calculated as the sum of annualised first-year premiums on regular premium policies plus 10% of single premiums from new retail and group customers during a period.
Q: What does Value of New Business (VNB) indicate?
A: VNB represents the profitability of new business written in a period. It is the present value of all future profits to shareholders at the time of writing new business contracts, based on long-term assumptions reviewed annually.
Q: How did ICICI Life Insurance’s assets under management (AUM) change?
A: As of September 30, 2026, the company’s AUM stood at ₹3.29 lakh crore, reflecting its strong financial position.
