Board Meeting Details

The Board of Directors meeting commenced at 11:05 a.m. and concluded at 1:07 p.m. on October 13, 2026.

Key Approvals

  • Approved un-audited financial statements and financial results (standalone) for quarter and half year ended September 30, 2026
  • Approved disclosures as per Regulation 30 and 51 of SEBI Listing Regulations

Management Change

Mr. Sidharatha Mishra ceased to be a Senior Management Personnel effective October 14, 2026, upon appointment as Additional Director.

Financial Results Overview

Profitability Metrics (₹ in Lakhs)

  • Q2 FY2027 PAT: ₹37,422 (Q2 FY2026: ₹29,926)
  • H1 FY2027 PAT: ₹76,040 (H1 FY2026: ₹60,135)
  • Basic EPS: ₹2.58 for Q2 FY2027 (₹2.07 for Q2 FY2026)
  • Diluted EPS: ₹2.57 for Q2 FY2027 (₹2.06 for Q2 FY2026)

Premium Income (₹ in Lakhs)

  • Gross Premium Q2 FY2027: ₹1,425,459
  • Net Premium Q2 FY2027: ₹1,380,390
  • First Year Premium: ₹214,570
  • Renewal Premium: ₹729,647
  • Single Premium: ₹481,242

Balance Sheet Position (at September 30, 2026, ₹ in Lakhs)

  • Share Capital: ₹145,123
  • Reserves & Surplus: ₹1,278,566
  • Total Borrowings: ₹259,500
  • Policy Liabilities: ₹14,675,711
  • Total Assets: ₹32,686,227

Key Ratios

  • Solvency Ratio: 229.9% (Regulatory requirement: 150%)
  • Expenses of Management Ratio: 18.6%
  • 13th Month Persistency: 84.5%
  • 49th Month Persistency: 71.6%

Operational Highlights

Value of New Business (VNB)

  • VNB H1 FY2027: ₹1,283 crore, up 22.3% YoY
  • VNB Margin: 26.0% (150 bps improvement)

Embedded Value

  • EV: ₹56,669 crore, up 12.2% YoY
  • Value of In-force Business: ₹42,389 crore, up 12.0% YoY

Premium Growth

  • New Business Received Premium: ₹11,821 crore, up 25.0% YoY
  • Total Premium: ₹24,505 crore, up 15.3% YoY
  • APE: ₹4,935 crore, up 15.1% YoY

Segment Performance

  • Retail Protection APE: Grew 47.2% YoY to ₹455 crore
  • Annuity APE: Grew 50.0% YoY to ₹324 crore
  • Retail Sum Assured: ₹2.32 lakh crore, up 34.9% YoY
  • Total In-force Sum Assured: ₹49.92 lakh crore, up 18.4% YoY

Cost Efficiency

  • Cost/Total Premium ex-GST: 18.3% (30 bps improvement)
  • Savings Cost/Total Premium ex-GST: 11.6% (90 bps improvement)

Assets Under Management

  • AUM: ₹3.29 lakh crore, up 2.3% YoY
  • Debt-Equity Mix: 59:41
  • 95.2% of fixed income investments in sovereign or AAA rated instruments
  • Zero NPAs since inception

Corporate Developments

Name Change

  • Company renamed from 'ICICI Prudential Life Insurance Company Limited' to 'ICICI Life Insurance Limited'
  • Effective September 22, 2026, upon issuance of fresh Certificate of Incorporation

Promoter Reclassification

  • Prudential Corporation Holdings Limited (PCHL) requested reclassification from 'promoter' to 'investor'
  • Board approved the proposal on July 6, 2026
  • Application with IRDAI pending approval
  • Reclassification not given effect in these financial statements

Accounting Standards

  • IRDAI granted forbearance permitting deferral of Ind AS adoption by one year
  • Financial statements prepared as per Indian GAAP and Schedule II of IRDAI Regulations, 2024

SEBI Regulations

  • Filed under Regulation 33, Regulation 52 and other applicable provisions of SEBI Listing Regulations
  • Submitted limited review reports from joint statutory auditors M. P. Chitale & Co. and Chaturvedi & Co LLP
  • Disclosures of related party transactions filed in prescribed XBRL format

IRDAI Compliance

  • Claim settlement ratio: 99.3% in H1-FY2027
  • Average turnaround time: 1.1 days for non-investigated claims
  • Settled ₹2,627 crores of death claims and paid ₹8,634 crores as maturity/survival benefits

Shareholder Information

ESOP Allotment

  • Allotted 1,952,518 equity shares of face value ₹10 each pursuant to exercise of employee stock options

Investor Complaints

  • No investor complaints pending at beginning or received during the quarter
  • No complaints remaining unresolved at end of period

Auditor Review

  • Financial results reviewed by joint statutory auditors M. P. Chitale & Co. and Chaturvedi & Co LLP
  • Unmodified review conclusion issued
  • Reliance on Appointed Actuary's certificate for valuation of policy liabilities

Forward-looking Statements

Company disclaimer notes that statements containing words like 'will', 'expected to' constitute forward-looking statements involving risks and uncertainties that could cause actual results to differ materially.