ICICI Life Insurance Limited reported a 26.5% year-on-year increase in profit after tax (PAT) to ₹760 crore in the first half of FY2027, reflecting strong business growth, improved operational efficiency and sustained demand for protection and annuity products.
The company’s new business premium grew 25% year-on-year to ₹11,821 crore, while its value of new business (VNB) rose 22.3% to ₹1,283 crore, with a margin of 26%. Retail protection expanded 47.2% and annuity business grew 50%, taking retail sum assured up 34.9% to ₹2.32 lakh crore.
Chief Operating Officer Sidharatha Mishra said protection and annuity remained central to the company’s long-term strategy, supported by a diversified distribution network, customer-centric products, strong service standards and prudent risk and capital management. The company aims to sustain VNB growth while balancing profitability and risk.
Its claim settlement ratio stood at 99.3%, with an average turnaround time of 1.1 days for non-investigated claims. It settled death claims worth ₹2,627 crore and paid ₹8,634 crore in maturity and survival benefits during the period.
Operational indicators also improved, with 54% of savings policies issued on the same day. The cost-to-premium ratio, excluding GST, declined 30 basis points year-on-year to 18.3%, while the savings cost-to-premium ratio fell 90 basis points to 11.6%.
Renamed ICICI Life Insurance Limited, the company is marking its 25-year journey and says it has served more than 20 crore Indians. Its customer-first philosophy continues under the promise of “HarKalAasaan”.
