ICICI Prudential Life Insurance Company Ltd

ICICI Prudential Life Insurance Company Limited's Board has approved a proposal to reclassify Prudential Corporation Holdings Limited from 'Promoter' to 'Investor', subject to IRDAI approval. Consequently, the company plans to change its name to 'ICICI Life Insurance Limited'. The board also accepted the resignation of Non-Executive Director Mr. Naveen Tahilyani, effective July 6, 2026. These changes aim to align the company's corporate identity with its evolving promoter structure.

ICICI Prudential Life Insurance Company Limited announced key board decisions including the approval to reclassify Prudential Corporation Holdings Limited from 'Promoter' to 'Investor'. This reclassification necessitates a change in the company's corporate identity, leading to an approved proposal to change the company's name to 'ICICI Life Insurance Limited'. The company will file applications with the IRDAI for both the reclassification and the name change, subject to regulatory approvals. Additionally, the board accepted the resignation of Mr. Naveen Tahilyani as Non-Executive Director, effective July 6, 2026.

ICICI Prudential Life Insurance Company Limited's Board of Directors has approved filing an application with IRDAI to reclassify Prudential Corporation Holdings Limited from 'Promoter' to 'Investor'. This move necessitates a change in the company's name from 'ICICI Prudential Life Insurance Company Limited' to 'ICICI Life Insurance Limited', subject to regulatory approvals. Additionally, the board accepted the resignation of Mr. Naveen Tahilyani as Non-Executive Director, effective July 6, 2026.

ICICI Prudential Life Insurance Company Limited's promoters, ICICI Bank and Prudential Corporation Holdings Limited, have entered into a Letter of Undertaking. This agreement pertains to Prudential's non-exercise of certain rights concerning the company, subject to board and regulatory approvals. The undertaking is related to Prudential's proposed acquisition of a 75% stake in Bharti Life. To mitigate potential conflicts of interest, the Bank and Prudential have formalized their inter-se rights during the period of Prudential's reclassification from 'promoter' to 'investor' at ICICI Prudential Life Insurance. Prudential will also support the company in potential name changes and brand usage transitions.

ICICI Bank and Prudential Corporation Holdings have entered into a Letter of Undertaking concerning Prudential's non-exercise of certain rights related to ICICI Prudential Life Insurance Company Limited. This undertaking is to mitigate potential conflicts of interest arising from Prudential's proposed acquisition of a 75% stake in Bharti Life. The agreement covers the period from the application for Prudential's reclassification from 'promoter' to 'investor' with IRDAI until the closing of the Bharti Life transaction. Prudential will also support the company in potential name changes and brand usage transitions.

ICICI Prudential Life Insurance Company Limited has received an appeal order concerning GST for FY2018. The order partially upholds a tax demand due to excess Input Tax Credit in GSTR-3B vis-à-vis GSTR-2A. The total financial implication includes GST of ₹76,550, interest of ₹78,899, and a penalty of ₹10,000, totaling ₹1,65,449. The company has paid the liability without admitting allegations.

ICICI Prudential Life Insurance Company Ltd has announced the closure of its trading window from July 1, 2026, to July 17, 2026. This closure is in compliance with SEBI regulations and the company's code of conduct for designated persons and their immediate relatives. The trading window will reopen after the board meeting scheduled for July 15, 2026, where the unaudited financial statements for the quarter ended June 30, 2026, will be considered for approval.

ICICI Prudential Life Insurance Company Ltd has announced that its Board of Directors will convene on July 15, 2026. The primary agenda item is to consider and approve the unaudited financial statements and results for the quarter ended June 30, 2026. Concurrently, the company has implemented a trading window closure for designated persons and their immediate relatives from July 1, 2026, to July 17, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

ICICI Prudential Life Insurance Company Ltd has issued a clarification regarding a news article suggesting its promoter, Prudential Corporation Holdings Limited, intends to retain a 21.9% stake. The company stated it is unaware of any such developments. Prudential Corporation Holdings Limited referred to its prior disclosure dated May 17, 2026, submitted under SEBI regulations, which was also disclosed by ICICI Prudential Life Insurance on the same date. This clarification addresses market speculation and reaffirms the company's stance on the matter.

ICICI Prudential Life Insurance Company Ltd has received an order from the Deputy Commissioner of State Tax, Chhattisgarh, for FY2024, demanding ₹166,560,929. This includes ₹106,127,843 in GST, ₹39,266,389 in interest, and ₹21,166,697 in penalty. The demand arises from mismatches in Input Tax Credit (ITC) claims and GST liability. The company plans to appeal the order before the Commissioner (Appeals) within the prescribed timelines. At this stage, no financial impact is expected.