ICICI Prudential Q1 Business Update: Annualised Premium Equivalent Falls 5%

ICICI Prudential Life Insurance Co. has reported a lackluster business update for the first quarter of fiscal 2026, with June's Annualised Premium Equivalent growth declining by 5.2% year-on-year to Rs 694 crore.

The company's Q1 APE growth also declined 5% year-on-year, reaching Rs 1,864 crore. Retail APE growth also fell by 9.2% to Rs 1,512 crore, and June's retail APE growth was also down 7.7% to Rs 573 crore.

In terms of new business premiums, ICICI Prudential Life saw a 4.1% year-on-year increase in June, totaling Rs 1,573 crore. For the first quarter, new business premiums grew by 6.5% year-on-year to Rs 4,012 crore.

ICICI Prudential Life Insurance, established in 2001, is a joint venture between ICICI Bank Ltd. and Prudential Corporation Holdings Ltd. The company offers a range of life insurance and asset management services, catering to various life stage requirements of its customers.

In the same light ICICI Prudential Life Insurance share price declined 2.57% to Rs 662.82 apiece.

After the business update, share price of ICICI Prudential pared losses to trade 1.2% lower at Rs 671.4 apiece as of 12:15 p.m., as compared to a 0.43% decline in the NSE Nifty 50.