ICICI Prudential Life delivered strong Q1-FY27 results.

Annualised Premium Equivalent (APE) grew 14.6% YoY to ₹2,136 Cr, with Total Premium reaching ₹10,251 Cr (+14.5% YoY). Value of New Business (VNB) surged 24.9% to ₹571 Cr, achieving a 26.7% margin.

Profits after Tax increased 27.8% to ₹386 Cr.

Notably, retail sum assured jumped 45.9% YoY to ₹113,413 Cr, showcasing robust growth in the protection segment.

Cost efficiency improved, with the savings LOB cost ratio declining to 13.6%. The company's strategy focuses on sustainable VNB growth, driven by a comprehensive product suite, diversified distribution, and operational efficiency leveraging technology.

A key initiative is the proposed renaming to 'ICICI Life Insurance Limited', reflecting the strong brand association.

Management sees significant long-term growth potential in India's under-penetrated protection, long-term savings, and retirement markets, supported by favorable demographics and rising financialization of savings.