Sidharatha Mishra, chief operating officer of ICICI Life Insurance who has been named as new managing director and CEO of the company “Our commitment is to deliver sustainable VNB growth while balancing business, profitability and risk and prudence.”
New Delhi: ICICI Life Insurance on Tuesday reported a 25% rise in profit after tax to Rs 374.22 crore for the September quarter of FY27, driven by higher premium income.
The private insurance firm had posted a PAT of Rs 299.26 crore in the year-ago period.
The company’s net premium income rose 16.5% to Rs 13,804 crore in the July-September quarter against Rs 11,843 crore a year ago, ICICI Life Insurance said in a stock exchange filing.
The life insurer’s expenses of management(EoM) has risen from 17.5% in Q2FY26 to 18.6 % in Q2FY27.
Sidharatha Mishra, chief operating officer (COO), of ICICI Life Insurance, who has been named as new managing director and CEO of the company, said , “Protection and annuity remain at the heart of our long-term strategy, addressing deeply underpenetrated needs in India. Backed by a well-diversified distribution network,innovative and customer-centric product portfolio, customer-first sales and service, industry leading quality parameters, strong risk and capital metrics, we are a resilient organisation that can successfully capitalise on emerging opportunities.”
“Our commitment is to deliver sustainable VNB growth while balancing business, profitability and risk & prudence,” he added.
The insurer’s embeded value grew by 12.2% year-on-year from ₹ 505.01 billion at Sept 30, 2025 to ₹566.69 billion at Sept 30, 2026.
It’s value of new business (VNB) grew by 22.3% year-on-year from ₹ 10.49 billion in H1-FY2026 to ₹ 12.83 billion in H1-FY2027, with a margin of 26%.
The assets under management of the company stood at ₹ 3.29 trillion at September 30, 2026. The company has a debt-equity mix of 59:41, and 95.2% of the fixed income investments are in sovereign or AAA rated instruments.
The company’s net worth was ₹ 146.33 billion at September 30, 2026. The solvency ratio was 229.9% against the regulatory requirement of 150%.
The 13th month and 49th month persistency ratio stood at 84.5% and 71.6% respectively at
September 30, 2026.