ICICI Life Insurance Co. Ltd defended credit life insurance as an important protection for borrowers, particularly low-income borrowers, after the Insurance Regulatory and Development Authority of India proposed capping commissions on single-premium loan-linked life cover at 2% versus 22% average in FY25. The company, for which credit life is about a third of protection business, said the proposal implies a fairly significant cut but it was too early to assess impact. It also reported H1 FY27 profit after tax up 26.5% to Rs 760 crore and value of new business up 22.3% to Rs 1,283 crore.

ICICI Prudential Life Insurance Company Limited reported Q2FY27 net profit of Rs 374.22 crore, up 25.05% from Rs 299.26 crore, on net premium income of Rs 13,804 crore, APE of Rs 2,799 crore and VNB of Rs 712 crore with margin at 25.44%. The insurer also reported solvency at 229.9%, improved persistency, and appointment of Sidharatha Mishra as additional director and MD & CEO-designate to succeed Anup Bagchi.

ICICI Life Insurance Limited, formerly ICICI Prudential Life Insurance Company Limited, reported a 25% year-on-year rise in Q2 FY27 profit after tax to Rs 374 crore from Rs 299 crore, and a 26.5% rise in H1 profit to Rs 760 crore, driven by higher net premium earned, shareholders' investment income and surplus from its in-force book, with APE up 15.1% to Rs 4,935 crore and VNB up 22.3% to Rs 1,283 crore.

Emkay Research expects ICICI Prudential Life Insurance Company Limited to lead large private life insurers with around 18% year-on-year annualised premium equivalent growth in Q2, supported by non-participating savings, term protection and riders, with healthier value of new business margin expansion. Emkay maintained an add rating while cutting its target price to Rs 550.

ICICI Prudential Life Insurance, reported as ICICI Life Insurance, posted 53.3% year-on-year growth in new business premium to Rs 2,700.8 crore in September.