ICICI Prudential Life Insurance Company Ltd

ESOP Allotment

• 1,552 equity shares of ₹10 allotted on Oct 13, 2026 under ESOP 2023.
• Allotment approved by MD & CEO under board authority dated Jan 22, 2019 and shares rank pari-passu.

Business overview

• Renamed to ICICI Life Insurance Limited; core business, strategy and governance unchanged.
• Strategic focus remains sustainable VNB growth balancing growth, profitability and prudence.

Operational highlights

• H1 FY2027 APE ₹49.35 bn; total premium ₹245.05 bn.
• New business premium grew 25% in H1 FY2027.
• Persistency 13M at 84.5% as of Sep 30, 2026.
• Claim settlement ratio 99.3% in H1 FY2027; average TAT 1.1 day.
• Solvency ratio 229.9% as of Sep 30, 2026.

Financial performance

• PAT FY2026 ₹16.00 bn; H1 FY2027 ₹7.60 bn.
• VNB FY2026 ₹26.29 bn; VNB H1 FY2027 ₹12.83 bn.
• VNB margin FY2026 24.7%; H1 FY2027 26.0%.
• AUM ₹3,289.64 bn as of H1 FY2027.
• Embedded Value close FY2026 ₹529.89 bn; EVOP ₹57.02 bn; ROEV 11.9%.

Capital structure & liquidity

• Solvency ratio 229.9% as of Sep 30, 2026.
• AUM ₹3,289.64 bn; no explicit debt actions disclosed.

Strategic priorities & outlook

• Deliver sustainable VNB growth by balancing growth, profitability and prudence.
• Digital-led onboarding and AI underwriting to boost issuance and service.
• Diversified channel mix: Bancassurance, Agency, Direct, Partnership, and Group.

Risks & mitigation

• Insurance risk monitored via persistency and mortality tracking.
• Interest-rate risk hedged with derivatives; high-quality asset mix.
• Asset quality: 95.2% sovereign/AAA; 99.7% AA and above.

Governance & leadership

• Renamed to ICICI Life Insurance Limited; governance framework unchanged.
• Board Sustainability & CSR Committee oversees ESG integration.

Key updates

• Renamed to ICICI Life Insurance Limited.
• Board approved standalone results for quarter and six months ended Sep 30, 2026.

Financial & operating highlights

• PAT ₹760 crore; up 26.5% YoY.
• VNB ₹1,283 crore; VNB margin 26.0%.
• EV ₹56,669 crore; up 12.2% YoY.
• VIF ₹42,389 crore; up 12.0% YoY.
• NB premium ₹11,821 crore; APE ₹4,935 crore.
• Retail protection APE ₹455 crore; Annuity APE ₹324 crore.
• Retail NB sum assured ₹2.32 lakh crore.
• Total in-force sum assured ₹49.92 lakh crore.
• AUM ₹3.29 trillion; solvency 229.9%.
• Persistency: 13th month 84.5%; 49th month 71.6%.

Productivity & mix

• Product mix by APE: Linked 44.5%; Non-Linked 18.1%; Protection 23.4%; Annuity 6.6%; Group 7.4%.
• Retail NB sum assured grew to ₹2.32 lakh crore.

Efficiency & persistency

• Cost to premium (ex GST) 18.3%; Savings cost to premium (ex GST) 11.6%.
• Cost to premium (incl GST) 20.0%; Savings cost to premium incl GST 12.7%.
• Persistency metrics remain robust with 84.5% (13th month) and 71.6% (49th month).

Meeting Details

• Date of the meeting: October 13, 2026.
• Time and venue not disclosed.

Key Agenda Items

• Consider approval of unaudited financial statements and results for the quarter and half-year ended September 30, 2026.

Other Notes

• Trading window closed from Oct 1 to Oct 15, 2026 for designated persons and their immediate relatives.

Name change

• Old name: ICICI Prudential Life Insurance Company Limited.
• New name: ICICI Life Insurance Limited.
• Effective date: September 22, 2026.
• Registrar of Companies approved the change; fresh Certificate of Incorporation issued.
• MOA name clause and Articles of Association amended accordingly.
• IRDAI to issue revised CoR; regulatory updates with exchanges and authorities.

Capital / Securities

• The company allotted 10,142 equity shares on September 22, 2026, ranking pari-passu with existing shares.
• 2,740 shares allotted under Employees Stock Option Scheme (2005).
• 7,402 shares allotted under Employees Stock Unit Scheme (2023).
• Managing Director & CEO approved allotment today at 14:10 IST under board authority dated 22 January 2019.

Resolutions

• Special resolution to rename company to ICICI Life Insurance Limited and amend MOA/AOA.
• Approved with 99.9994% in favour, 0.0006% against; turnout 91.21%.
• Total votes polled: 1,323,265,093; in-favour: 1,323,257,250; against: 7,843.
• No capital action; only name and regulatory MOA/AOA amendments.

Meeting Details

• Sept 17, 2026, 9:00 a.m. IST, in-person, Jefferies 5th India Forum, Gurgaon - Investor Group.
• Sept 21, 2026, 2:00 p.m. IST, in-person, J.P. Morgan India Conference, Mumbai - Investor Group.
• Sept 21, 2026, 11:30 a.m. IST, in-person, 33rd CITIC CLSA Flagship Investors' Forum, Hong Kong - Investor Group.
• Sept 22, 2026, 7:00 a.m. IST, in-person, meeting (unspecified event).

Participants

• Company management participants not specified in the filing.

Purpose

• General investor/analyst interaction under Analyst/Investor Meet.

Additional Notes

• Schedule subject to change.

Key Update

• GST order upholds tax demand of ₹3.75 crore for July 2017–September 2019.
• Tax details: ₹18,764,898 tax; ₹18,764,898 penalty; total ₹37,529,796.
• Appeal to be filed before appellate authority; no adverse impact on operations.
• Order dated 9 September 2026, 12:08 pm IST.