ICICI Prudential Life Insurance Company Ltd

ICICI Prudential Life Insurance Company Ltd has received a rectification order from the Assistant Commissioner of Income Tax, Mumbai, for Assessment Year 2023. The order demands an incremental tax of ₹97,07,75,200 and incremental interest of ₹1,33,11,03,953, totaling ₹591,41,87,210. This includes a revised tax demand of ₹3,72,36,41,785 and interest of ₹219,05,45,425. The company states there is no adverse material impact on its financial operations. ICICI Prudential Life has filed an appeal against this order.

ICICI Prudential Life Insurance Company Ltd has received a rectification order from the Assistant Commissioner of Income Tax, Mumbai, for Assessment Year 2024. The order rectifies a previous assessment, seeking incremental interest of ₹40,96,103 on an already issued refund, while also reducing the original tax demand. The total financial implication includes a reduced tax demand of ₹215,56,50,475 and incremental interest of ₹63,33,27,980, totaling ₹278,89,78,455. The company states there is no adverse material impact on its financial operations. ICICI Prudential Life Insurance has filed an appeal against this order.

ICICI Prudential Life Insurance Company Ltd announced that Mr. Sidharatha Mishra will cease to be a Senior Management Personnel effective October 14, 2026, upon his appointment as an Additional Director. The company also reported its un-audited financial results for the quarter and half-year ended September 30, 2026. Key figures include Gross premium income of ₹1,174,265 Lacs for the quarter and ₹4,013,755 Lacs for the half-year. The company also submitted limited review reports and disclosures of related party transactions as per SEBI regulations.

ICICI Prudential Life Insurance Company Ltd announced its un-audited standalone financial results for the quarter and half year ended September 30, 2026. The Board of Directors approved these results during a meeting held on October 13, 2026. The filing also noted that Mr. Sidharatha Mishra will cease to be Senior Management Personnel upon his appointment as an Additional Director effective October 14, 2026. Disclosures related to party transactions and other regulatory requirements were also submitted.

ICICI Life Insurance (formerly ICICI Prudential Life) reported standalone Q2 FY27 PAT of ₹374 Cr, up 26.5% YoY from ₹295.83 Cr but down 3.1% sequentially from ₹386 Cr in Q1 FY27. Shareholders'-account PBT was ₹435 Cr, up 25.4% YoY, on a tax charge of ₹61 Cr; basic EPS came in at ₹2.58 versus ₹2.07 a year ago. For the half year, PAT rose 26.5% YoY to ₹760 Cr from ₹601 Cr, matching the growth rate the company highlighted in its own release. The shareholders'-account income base itself shrank — total income (investment income, other income and the surplus transferred in from the Policyholders' Account) fell to ₹484 Cr, down 35.4% YoY and 10.3% QoQ, as the surplus transferred in from the Policyholders' Account dropped to roughly ₹131 Cr from about ₹420 Cr a year earlier. Shareholders' investment income nonetheless grew about 10% YoY to ₹351 Cr, and expenses held broadly flat (₹53 Cr vs ₹51 Cr YoY), so the PBT/income ratio still expanded sharply to ~90% from ~46% a year ago — margin expansion that more than offset the smaller income base. Company-wide (policyholders + shareholders combined), net premium earned rose 16.6% YoY to ₹13,804 Cr, though total income swung quarter to quarter on ULIP mark-to-market investment income, which was negative in Q2 (-₹1,773 Cr) after a large positive swing in Q1. No Q2 FY27-specific street consensus could be found; the only available FY27 forecast (VNB growth of 10-13%, per a mid-2026 brokerage insurance-sector preview) sits well below the 22.3% YoY VNB growth actually booked in H1 FY27 to ₹1,283 Cr at a 26.0% margin (+150bps). On guidance, management's prior concall commitment to sustain protection-business momentum and manage expenses via AI/ML tools was broadly met: cost/premium ratio ex-GST improved 30bps YoY to 18.3%, and retail protection APE grew 47.2% YoY — the flagged H2 tapering from a higher base has not shown up yet. The company's own release attributes the profit growth to 'higher Shareholders' investment income and improved surplus generation in policyholders' in-force book'; the investment-income claim checks out, but the regulatory Policyholders' Account surplus line itself was actually down 22.7% YoY in H1 FY27 (₹666 Cr vs ₹861 Cr), likely reflecting weaker investment markets rather than an operating improvement — a point the release's framing glosses over. Two governance events landed alongside the print: the company completed its rename to 'ICICI Life Insurance Limited' effective September 22, 2026 after Prudential Corporation Holdings' reclassification from promoter to investor, and MD & CEO Anup Bagchi resigned October 2, 2026, with Sidharatha Mishra named successor effective October 14, 2026 — just after this result. Net worth stood at ₹14,633 Cr and the solvency ratio at 229.9%, well above the 150% regulatory floor, giving the incoming CEO a well-capitalised base heading into Q3 FY27.

ICICI Prudential Life Insurance Company Ltd has released its monthly business performance update for September 2026. The company reported a year-on-year growth of 15.38% in Retail Weighted Received Premium (RWRP) to ₹82.06 billion for the month. Annualised Premium Equivalent (APE) saw a 2.2% YoY growth to ₹106.41 billion. Retail APE grew by 8.9% YoY to ₹16.46 billion. New Business (NB) premium increased by 21.3% YoY to ₹48.66 billion, with NB sum assured growing by 31.8% YoY to ₹4,896.65 billion. The update also includes year-to-date figures for FY2026 and Q1-FY2027.

ICICI Prudential Life Insurance Company Ltd announced a significant change in its top leadership. Mr. Anup Bagchi has resigned as Managing Director and Chief Executive Officer, effective October 13, 2026. The Board of Directors expressed appreciation for his contributions. Concurrently, the Board approved the appointment of Mr. Sidharatha Mishra as Chief Operating Officer from October 6, 2026, and as Additional Director and Managing Director & CEO from October 14, 2026, for a five-year term, subject to regulatory approvals. Mr. Mishra brings over 26 years of banking experience.

ICICI Prudential Life Insurance Company Ltd announced a significant change in its leadership. The Board of Directors accepted the resignation of Mr. Anup Bagchi as Managing Director and Chief Executive Officer, effective October 13, 2026. Mr. Bagchi has been with the ICICI Group for over three decades. Concurrently, the Board approved the appointment of Mr. Sidharatha Mishra as Chief Operating Officer from October 6, 2026. Furthermore, Mr. Mishra has been appointed as Additional Director and Managing Director & CEO, effective October 14, 2026, for a five-year term, subject to regulatory approvals. Mr. Mishra brings over 26 years of experience in the banking sector.

ICICI Prudential Life Insurance Company Ltd announced a significant change in its top management. The Board of Directors accepted the resignation of Mr. Anup Bagchi as Managing Director and Chief Executive Officer, effective October 13, 2026. Mr. Bagchi has been with the ICICI Group for over three decades. Concurrently, the Board approved the appointment of Mr. Sidharatha Mishra as Chief Operating Officer from October 6, 2026, and as Additional Director and Managing Director & CEO from October 14, 2026, for a five-year term, subject to regulatory approvals. Mr. Mishra brings over 26 years of banking sector experience.

ICICI Prudential Life Insurance Company Ltd has announced that its Board of Directors will convene on October 13, 2026. The primary agenda item is to consider and approve the un-audited financial statements and results for the quarter and half-year ended September 30, 2026. Concurrently, the company has informed that the trading window for its securities will be closed from October 1, 2026, to October 15, 2026, for designated persons and their immediate relatives, in compliance with SEBI's Prohibition of Insider Trading Regulations.