ICICI Prudential Life Insurance delivered robust third-quarter performance with net profit climbing 20% year-on-year to ₹390 crore, driven by strong investment income and improved margins following recent GST reforms on life insurance products. The positive momentum extended to nine-month results, with profit surging 24% to ₹992 crore.

Financial Performance Highlights

The insurer's key financial metrics demonstrated strong growth across multiple parameters during the reporting period.

The value of new business margin improvement to 24.4% from 22.8% in the previous year was largely attributed to a higher share of protection business in the overall mix.

GST Reforms Drive Business Growth

The recent GST reforms on life insurance products emerged as a significant growth catalyst for the company. CFO Dhiren Salian emphasized the positive impact during the post-earnings analyst call, stating that the reforms will be "value accretive for all stakeholders, customers, distributors and the company."

Total annualised premium equivalent rose 3.6% during the quarter, with protection premiums showing particularly strong performance with a 40% jump following the GST reduction. However, annuity and group funds segments experienced some weakness during the period.

Debt Refinancing and Capital Management

During the quarter, ICICI Prudential Life Insurance undertook significant debt restructuring by calling back ₹1,200 crore of subordinated debt that was originally raised in 2020. The company successfully refinanced this amount through fresh debt issuance, optimizing its capital structure.

Market Response and Outlook

Shares of ICICI Prudential Life Insurance rose 0.35% to ₹682.20 on the BSE, outperforming the broader market which declined 0.3% during the trading session. The management noted that despite the withdrawal of input tax credit on individual business from September 22, 2025, nine-month margins have been maintained at first-half levels.

Salian highlighted the comprehensive benefits of the GST reforms, noting that "customers have seen the value of zero GST, we have benefited from higher volumes, and distributors have also gained from this increase in volumes." The company continues to work with multiple partner types and is progressively addressing commercial arrangements to create win-win propositions across its distribution network.

ICICI Prudential Life Insurance Company Limited has announced the availability of its earnings conference call recording for the quarter and nine months ended December 31, 2025. The company communicated this development to stock exchanges through an official letter dated January 13, 2026.

Earnings Call Details

The earnings conference call was conducted to discuss the company's performance for 9M-FY2026 with investors and analysts. The call provided stakeholders with insights into the company's financial performance and business developments during this period.

Audio Recording Availability

Following the completion of the earnings call, ICICI Prudential Life Insurance has made the audio recording accessible to stakeholders through its official website. This initiative ensures transparency and allows broader access to the company's financial discussions.

Regulatory Compliance

The communication was made under Regulation 30 of the Securities and Exchange Board of India (SEBI) regulations. The company informed both major stock exchanges about the earnings call recording availability through formal letters.

The notification was sent to:

• BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai
• National Stock Exchange of India Limited at Exchange Plaza, Bandra-Kurla Complex, Mumbai

This disclosure demonstrates the company's commitment to maintaining transparency with its stakeholders and ensuring compliance with regulatory requirements for listed entities.