ICICI Prudential Life Insurance Company Limited — Q1FY27 earnings call summary

Filed 22 July 2026 · Official transcript

Focus on absolute VNB growth over margin fixation; no formal margin guidance
Protection growth expected to moderate in H2FY27; MFI segment recovery to support
Savings APE grew 5.8% y-y; cost-to-premium ratio for savings reduced 50bps to 13.6%
Q1-FY2027 VNB grew 24.9% y-y to ₹5.71bn; VNB margin expanded 200bps to 26.7%
PAT increased 27.8% y-y to ₹3.86bn; AUM at ₹3.34tn; solvency ratio strong at 225.4%
Retail protection APE grew 60.4% y-y; protection share in APE rose to 27.9%
Distribution: agency APE +2%, direct +8.3%, bancassurance +5.6%, partnership +29.5%
Persistency stable at 84% (13th month); claim settlement ratio 99.3% with 1-day turnaround