ICICI Prudential Life Insurance has credited the final dividend of ₹1.65 per equity share for FY2026 to eligible shareholders. The payout, approved by shareholders at the Annual General Meeting on June 30, 2026, applies to shares with a face value of ₹10 each. The company fixed June 5, 2026, as the record date to determine shareholder eligibility for the dividend.

The remittance was processed via KFin Technologies Limited, acting as the Registrar & Share Transfer Agent. The company has deducted tax at source (TDS) in accordance with the Income-tax Act, 2025, wherever applicable. The tax deducted includes surcharge and cess, and the calculation considers the PAN-wise cumulative dividend disbursed during FY2027.

Shareholders can verify the credit details, including the gross dividend, TDS amount, and net dividend credited, through the intimation sent via email. The company stated that tax required to be deducted on the dividend amount is rounded up to the nearest rupee.

A tax deduction certificate in Form 131 will be available on the registrar's website by August 15, 2026, for cases where tax was deducted. Additionally, the tax credit in Form 168 can be viewed after the company files its returns related to the TDS deduction.

Shareholders who have not received the credit are advised to contact KFin Technologies Limited, quoting their Client ID or Folio Number. Any queries regarding the payment can be directed to the company's investor relations email.

ICICI Prudential Life Insurance Company Limited will reclassify its promoter, Prudential Corporation Holdings Limited, to an investor and change its corporate name to ICICI Life Insurance Limited, subject to regulatory approval. The Board of Directors approved these proposals on July 6, 2026, aligning the company's identity with its post-reclassification promoter structure. The changes follow a request from Prudential and a Letter of Undertaking dated July 4, 2026, addressing potential conflicts of interest arising from Prudential's proposed acquisition of a 75% stake in Bharti Life Insurance Company Limited.

The Board approved filing an application with the Insurance Regulatory and Development Authority of India (IRDAI) for the reclassification of Prudential from 'Promoter' to 'Investor' under the IRDAI Registration Regulations. Concurrently, the company will seek IRDAI approval to change its name from 'ICICI Prudential Life Insurance Company Limited' to 'ICICI Life Insurance Limited'. The name change requires compliance with the Insurance Act, 1938, the Companies Act, 2013, and SEBI regulations.

Governance and Board Changes

Mr. Naveen Tahilyani resigned as a Non-Executive Director effective July 6, 2026, citing the reclassification request and the proposed realignment of Prudential's governance arrangements. The Board accepted his resignation. As per the Letter of Undertaking, Prudential will arrange for the resignation of its nominee director upon the Board's approval of the reclassification application and will not nominate another director during the interim period.

Upon the effective date of reclassification, ICICI Bank has agreed to vote in favour of appointing one director nominated by Prudential, provided Prudential holds at least 10% shareholding and does not hold promoter status in another life insurance company in India. Prudential has agreed to abstain from voting on matters requiring a special resolution until the transaction closes or IRDAI directs otherwise.

Shareholding and Brand Transition

The agreement includes provisions for the transition of the brand and domain name. As of June 30, 2026, Prudential holds 21.89% of the equity shares, while ICICI Bank holds 50.84%.