ICICI Prudential Life Insurance Company has initiated a proactive campaign to assist shareholders in claiming their unpaid dividends and updating their details. The 100-day 'Saksham Niveshak' campaign, running from July 28, 2025 to November 6, 2025, aims to prevent the transfer of unclaimed dividends and corresponding shares to the Investor Education and Protection Fund (IEPF).

Campaign Objectives

The primary goals of the 'Saksham Niveshak' campaign are:

1. To help shareholders with unpaid or unclaimed dividends from FY2019 to FY2025 update their KYC (Know Your Customer) and bank details.
2. To facilitate the claiming of equity shares and dividends before they are transferred to the IEPF.
3. To comply with the Companies Act 2013, which mandates the transfer of unclaimed dividends and corresponding shares to the IEPF Authority after seven consecutive years.

Actions Taken by ICICI Prudential Life

To ensure the success of this initiative, ICICI Prudential Life has taken several steps:

1. Special Reminder Letters: The company has sent out special reminder letters to affected shareholders, providing detailed instructions on how to claim their outstanding dividends.
2. Online Information: Unclaimed dividend details have been made available on the company's website ( www.iciciprulife.com ) for easy access by shareholders.
3. Claim Process: Shareholders can claim outstanding dividends by either sending unpaid dividend warrants or completing a letter-cum-indemnity form provided by the company.

Importance of Shareholder Action

ICICI Prudential Life emphasizes the importance of shareholder action before the deadline. If dividends remain unclaimed, both the dividend amounts and corresponding equity shares will be transferred to the IEPF. Once transferred, shareholders would need to apply directly to the IEPF Authority using Form IEPF-5 to recover their assets, adding complexity to the process.

KYC and Bank Detail Updates

The company strongly urges shareholders to register or update their KYC and bank account details with the Registrar and Transfer Agent (RTA) or their Depository Participant. This step is crucial for receiving dividends electronically and ensuring smooth processing of dividend payments.

Regulatory Compliance

This initiative aligns with the directive of the Investor Education and Protection Fund Authority, Ministry of Corporate Affairs. ICICI Prudential Life has duly informed the stock exchanges about this campaign, in compliance with Regulations 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The 'Saksham Niveshak' campaign represents a significant effort by ICICI Prudential Life to protect shareholder interests and ensure regulatory compliance. Shareholders are advised to take prompt action to secure their unclaimed dividends and shares before the November 6, 2025 deadline.

ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) reported mixed results for the first quarter, with a decline in Annual Premium Equivalent (APE) but significant growth in profit after tax (PAT).

Key Performance Highlights

• APE Decline: The company's APE declined by 5% year-on-year to ₹18.64 billion.
• Retail APE: Retail APE fell by 9.2% to ₹15.12 billion.
• Profit Growth: Despite the APE decline, profit after tax grew by 34.2% to ₹3.02 billion.
• VNB and Margin: Value of New Business (VNB) stood at ₹4.57 billion with a VNB margin of 24.5%, up from 22.8% for the previous full year.
• Total Premium: Total premium grew by 8.1% year-on-year to ₹89.54 billion.
• Assets Under Management: AUM grew by 5.1% year-on-year to ₹3.2 trillion.

Business Segment Performance

• Non-linked Savings: Grew by 20.8% year-on-year, contributing 21.5% to APE.
• Linked Business: Declined by 13.6% year-on-year, contributing 46.8% to APE.
• Protection Business: Grew by 15.2% year-on-year, contributing 21.9% to APE.
• Retail Protection: Showed strong momentum with 24% year-on-year growth.
• Annuity Business: Declined 53.3% year-on-year due to a high base effect.
• Group Funds Business: Grew by 53.7% year-on-year, contributing 4.4% to APE.

Channel-wise Performance

Market Factors and Business Strategy

The company attributed the decline in APE to market volatility affecting linked products and a high base from the previous year's 47% growth. However, the shift towards guaranteed products amid equity market uncertainty benefited the non-linked savings business.

ICICI Prudential Life continues to focus on product innovation, distribution expansion, and cost optimization. The company launched 'Smart Insurance Plan Plus' for affordable wealth creation and 'iProtect Smart Plus' in the protection segment.

Financial Metrics and Efficiency

• Persistency: 13-month persistency stood at 86%, and 49-month persistency at 69.8%.
• Claims Settlement: Achieved a 99.6% claim settlement ratio with an average turnaround time of 1.1 days for non-investigated individual claims.
• Cost Efficiency: Cost-to-premium ratio improved by 280 basis points to 21.2%.
• Solvency Ratio: Remained strong at 212.3%.

ICICI Prudential Life's Managing Director and CEO, Anup Bagchi, commented on the results, stating, "We remain focused on improving customer experience and delivering value to our customers. Our robust risk management architecture is exhibited in our strong and resilient balance sheet."

The company continues to adapt to changing market conditions and customer preferences, focusing on sustainable growth in Value of New Business while maintaining a customer-centric approach across its operations.