ICICI Life Insurance Limited reported a 26.5% year-on-year increase in profit after tax to ₹760 crore in the first half of FY2027, while highlighting expanded insurance coverage, timely claim settlements and improved policy issuance for customers.
The company’s new business premium rose 25% to ₹11,821 crore, while its value of new business (VNB) increased 22.3% to ₹1,283 crore, with a margin of 26%. Retail protection grew 47.2% and annuity business expanded 50%, taking retail sum assured up 34.9% to ₹2.32 lakh crore.
For policyholders, the company reported a claim settlement ratio of 99.3%, with an average turnaround time of 1.1 days for non-investigated claims. It settled death claims worth ₹2,627 crore and paid ₹8,634 crore in maturity and survival benefits during the six-month period.
The insurer also said 54% of its savings policies were issued on the same day. Its cost-to-premium ratio, excluding GST, declined 30 basis points year-on-year to 18.3%, while the savings cost-to-premium ratio fell 90 basis points to 11.6%.
Chief Operating Officer Sidharatha Mishra said customer centricity remained central to the company’s strategy, with protection and annuity products addressing underpenetrated needs in India. He cited its diversified distribution network, customer-focused products and strong risk and capital metrics as supports for sustainable growth.
The company, recently renamed ICICI Life Insurance Limited, is marking 25 years of operations and says it has served more than 20 crore Indians. Its customer-first commitment continues under “HarKalAasaan”.
