ICICI Life Reports 26.5% Increase in H1 FY27 Net Profit to ₹760 Crore

KOCHI: Leading life insurer ICICI Life Insurance Limited announced a 26.5 percent growth in net profit to ₹760 crore for the first half of the current financial year (H1 FY27). During this period, the company recorded a 25 percent increase in new business premium to ₹11,821 crore, while the value of new business (VNB) rose by 22.3 percent to ₹1,283 crore, driving its retail sum assured portfolio to grow by 34.9 percent to ₹2.32 lakh crore.

The company registered robust annual growth of 47.2 percent in the retail protection segment and 50 percent in the annuity business. Highlighting the company’s customer-centric approach, Siddhartha Mishra, Chief Operating Officer, ICICI Life Insurance, stated that protection and annuity solutions remain vital pillars of the firm’s long-term strategy. During H1 FY27, the insurer maintained a claim settlement ratio of 99.3 percent, with non-investigative claims settled in an average of 1.1 days. The company disbursed total death claims worth ₹2,627 crore and maturity benefits of ₹8,634 crore, while transferring 54 percent of savings policy payouts on the same day. Marking 25 years of service in securing the financial future of over 20 crore individuals, the company also officially rebranded its corporate entity as ‘ICICI Life Insurance Limited’.