ICICI Life Insurance logo

ICICI Life Insurance share price

NSE: ICICILIFEBSE: 540133InsuranceMid Cap

ICICI Life Insurance Limited · Formerly ICICI Prudential Life Insurance Company · Face value ₹10 · Listed Sep 2016
Last close ₹412.00up ₹2.45 (0.60%)BSE ₹411.65

Share price at the NSE close on 28 Oct 2026. Previous close ₹409.55.

28 Oct: open ₹409.90, high ₹413.00, low ₹403.20

52-week range of traded prices to 28 Oct 2026
₹401.65Low, 27 Oct 2026₹706.80High, 13 Jan 2026
Market cap
₹59,791 Cr128th largest listed
P/E
33.98
P/B
4.09
Dividend yield
0.40%
ROE
12.9%
Solvency
2.30times the capital required
Gross premium
₹53,125 Cr
First-year premium
₹8,432 Cr
Expense ratio
18.10%
Persistency, 13 months
84.50%
Conservation
81.20%
Volume, NSE
7,36,70146.7% delivered

ICICI Life Insurance share price chart

Daily closes since Sep 2016, adjusted for splits and bonuses

−31.4%over a year · Nifty 500 −8.8%

Results20-session average 16,23,725 shares a day, 52.3% delivered

About ICICI Life Insurance

ICICI Life Insurance Limited is a life insurance company in India, licensed by the insurance regulator IRDAI.12 It sells life insurance, annuity, pension and health insurance products to individuals and groups, through individual agents, corporate agents, banks, brokers, its own sales force and its website.1

Its products fall into savings, protection and annuities, and savings plans come in 3 forms: unit-linked (the premium is invested in market funds the customer picks), participating (sharing in profits through bonuses) and non-participating (with benefits set at the start).3 Protection plans, sold on retail, group and credit life platforms, give cover for life, disability, critical illness and accidental death, while annuities pay a regular guaranteed income.4 All of its business is written in India, and its insurance office at GIFT City in Gandhinagar, an international financial services centre, began operations on 9 Jul 2025.56

The company was incorporated on 20 Jul 2000 and began operations in the year to Mar 2001.67 It was the first private life insurer in India to cross ₹1 trillion in assets under management and the first to list on the BSE and NSE.8

It was promoted jointly by ICICI Bank Limited and Prudential Corporation Holdings Limited, and ICICI Bank is its majority shareholder.9 In May 2026, Prudential Corporation Holdings proposed selling its 21.89% stake; as of the annual report of 4 Jun 2026, the sale was subject to regulatory approvals.10

ICICI Life Insurance key points

Results

  • In the half year to Sep 2026, profit after tax grew 26.5% to ₹7.60 billion, and value of new business (the present value of future profits on policies sold in the period) grew 22.3% to ₹12.83 billion, at a margin of 26.0%.11
  • Total premium grew 15.3% to ₹245.05 billion in the half year to Sep 2026, and new business premium grew 25.0% to ₹118.21 billion, with the number of policies up 10.6%.12
  • For the year to Mar 2026, consolidated profit after tax was ₹16.08 billion, against ₹11.86 billion a year earlier. Value of new business grew 10.9% to ₹26.29 billion that year, at a margin of 24.7%.1314
  • Embedded value (net worth plus the present value of future profits from policies already sold) grew 12.2% to ₹566.69 billion at 30 Sep 2026.15

Revenue mix

  • Share of annualised premium equivalent (APE: a year of regular premiums plus a tenth of single premiums) by product, year to Mar 20261617
    Itemyear to Mar 2026
    Unit-linked48.0%
    Non-linked savings20.5%
    Protection17.9%
    Group funds7.8%
    Annuity5.8%
    APE for the year was ₹106.41 billion.
  • Protection rose to 23.4% of APE in the half year to Sep 2026 from 19.3% a year earlier, as protection APE grew 39.5%, while savings fell to 76.6% of APE from 80.7%.18
  • Protection APE of ₹19.06 billion in the year to Mar 2026 came 41.5% from retail protection, 32.5% from credit life (cover that repays a borrower's loan on death) and 26.0% from group term (cover an employer or organisation buys for its members).19
  • Share of APE by channel, half year to Sep 20262021
    Itemhalf year to Sep 2026
    Bancassurance (sales through banks)27.4%
    Group (sales to organisations)21.6%
    Partnership distribution14.8%
    Agency and direct sales together made up 46.1% of retail business.

Assets, solvency and cover

  • At 30 Sep 2026, assets under management stood at ₹3.29 trillion and the solvency ratio (available capital as a percentage of the capital the regulator requires) at 229.9%, against a regulatory minimum of 150%.2223
  • Total life cover in force was ₹46.11 trillion on 31 Mar 2026, up 16.9% from ₹39.43 trillion a year earlier, across 73.73 million lives.2425
  • In the half year to Sep 2026, its sum assured (the amount its policies promise to pay on a claim) grew 30.1% to ₹8.81 trillion, a sum assured market share of 11.5%; retail sum assured grew 34.9% to ₹2.32 trillion.26
  • At the end of Mar 2026, 94.5% of its fixed-income investments were sovereign or AAA-rated, it had no non-performing investment since inception, and 65.1% of its liabilities largely passed market performance on to customers.27

Branches and reach

  • As of its earnings call for the half year to Sep 2026, it had more than 2.41 lakh advisors, 52 bank partners giving access to more than 27,000 bank branches, and more than 1,600 other partners.28

Claims and persistency

  • Its claim settlement ratio (the share of claims it paid) was 99.3% in the half year to Sep 2026, averaging 1.1 days on claims needing no investigation; in the year to Mar 2026 the individual ratio was 99.3% and the overall ratio 99.8%.2930
  • 13th month persistency (the share of policies still paying premiums in their 13th month) was 84.5% in the half year to Sep 2026.31

What the company expects

  • The company said on its earnings call that retail protection growth, elevated for 4 quarters since the GST change of Sep 2025, is expected to taper from 40% to 50% to more moderate levels in the second half of this year.32

Recent events

  • As of its earnings call of 14 Oct 2026, the board had appointed Sidharatha Mishra managing director and CEO for 5 years from 14 Oct 2026, subject to the requisite approvals.33
  • Individual life insurance products were exempted from GST (goods and services tax) from 22 Sep 2025, and from the same date the company could no longer claim input tax credit (a set-off for GST paid on its own costs).3435

Litigation and regulatory matters

  • Its pending litigation is mainly claims by customers and proceedings with tax authorities; on 31 Mar 2026 it held a provision of ₹15,680 lakh for cases where it judged a payment probable, against ₹14,739 lakh a year earlier.36
  • Its contingent liabilities at 31 Mar 2026 included a GST investigation on input tax credit for certain expenses, of ₹49,780 lakh; the company does not expect pending proceedings to have a material adverse effect on its consolidated financial statements.37
  • As of its earnings call for the half year to Sep 2026, the regulator IRDAI had issued a consultation paper proposing revised limits on insurers' expenses and caps on distributor commissions; the company said it was not yet a draft regulation.383940

Last updated

All 40 sources, each with its page
  1. 1. Annual report, 4 Jun 2026, page 556
  2. 2. Earnings call, 14 Oct 2026, page 3
  3. 3. Annual report, 4 Jun 2026, page 171
  4. 4. Annual report, 4 Jun 2026, page 171
  5. 5. Annual report, 4 Jun 2026, page 318
  6. 6. Annual report, 4 Jun 2026, page 556
  7. 7. Annual report, 4 Jun 2026, page 52
  8. 8. Annual report, 4 Jun 2026, page 44
  9. 9. Annual report, 4 Jun 2026, page 52
  10. 10. Annual report, 4 Jun 2026, page 52
  11. 11. Earnings call, 14 Oct 2026, page 7
  12. 12. Earnings call, 14 Oct 2026, page 4
  13. 13. Annual report, 4 Jun 2026, page 171
  14. 14. Annual report, 4 Jun 2026, page 63
  15. 15. Earnings call, 14 Oct 2026, page 7
  16. 16. Annual report, 4 Jun 2026, page 64
  17. 17. Annual report, 4 Jun 2026, page 119
  18. 18. Earnings call, 14 Oct 2026, page 4
  19. 19. Annual report, 4 Jun 2026, page 235
  20. 20. Earnings call, 14 Oct 2026, page 5
  21. 21. Earnings call, 14 Oct 2026, page 5
  22. 22. Earnings call, 14 Oct 2026, page 7
  23. 23. Annual report, 4 Jun 2026, page 63
  24. 24. Annual report, 4 Jun 2026, page 119
  25. 25. Annual report, 4 Jun 2026, page 63
  26. 26. Earnings call, 14 Oct 2026, page 4
  27. 27. Annual report, 4 Jun 2026, page 237
  28. 28. Earnings call, 14 Oct 2026, page 5
  29. 29. Earnings call, 14 Oct 2026, page 6
  30. 30. Annual report, 4 Jun 2026, page 171
  31. 31. Earnings call, 14 Oct 2026, page 6
  32. 32. Earnings call, 14 Oct 2026, page 14
  33. 33. Earnings call, 14 Oct 2026, page 3
  34. 34. Annual report, 4 Jun 2026, page 247
  35. 35. Annual report, 4 Jun 2026, page 119
  36. 36. Annual report, 4 Jun 2026, page 566
  37. 37. Annual report, 4 Jun 2026, page 566
  38. 38. Earnings call, 14 Oct 2026, page 5
  39. 39. Earnings call, 14 Oct 2026, page 6
  40. 40. Earnings call, 14 Oct 2026, page 8

Results

Standalone, as consolidated accounts are on record for only 10 of the last ten years; ₹ crore. Gross premium is what policyholders paid in the period, before the part passed on to reinsurers.ICICI Life Insurance quarterly results

Gross premium growth, 12 months
+15.2%
Net profit growth, 12 months
+34.0%

Quarter to Sep 2026, against the quarter before

Gross premium
₹14,255 Cr
Net profit
₹374 Crdown 3.10%

Gross premium by quarter

₹12,660 CrDec 24₹16,832 CrMar 25₹8,954 CrJun 25₹12,297 CrSep 25₹12,226 CrDec 25₹19,648 CrMar 26₹10,251 CrJun 26₹14,255 CrSep 26
Peak gross premium ₹19,648 Cr, quarter to Mar 2026; lowest ₹8,954 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹326 CrDec 24₹386 CrMar 25₹302 CrJun 25₹299 CrSep 25₹390 CrDec 25₹609 CrMar 26₹386 CrJun 26₹374 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Gross premium12,66016,8328,95412,29712,22619,64810,25114,255
Net profit326386302299390609386374
Standalone. The last eight quarters. The latest is shaded.

Business segments

Share of net premium, year to Mar 2026, consolidated.Segment revenue and profit

  • Linked Life₹19,613 Crup 6.53%38.2%
  • Non Par Life₹17,313 Crup 20.44%33.7%
  • Par Life₹5,422 Crdown 1.01%10.6%
  • Linked Group Life₹4,315 Crdown 15.77%8.4%
  • Annuity Non Par₹2,642 Crdown 5.57%5.1%
  • Non Par Pension₹790 Cr1.5%
  • Linked Group Pension₹553 Cr1.1%
  • Par Pension₹465 Cr0.9%
  • Linked Pension₹191 Cr0.4%
  • Health Non Par₹29 Cr0.1%
  • Non Par Variable Pension₹4 Cr0.0%
  • Linked Health₹0 Cr0.0%
The pill is the change in net premium on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.ICICI Life Insurance PE ratio and valuation

Price to earnings

At or below today's level on 6% of 1,946 trading days since Nov 2017.

LowestHighest
Its median69.28Industry median37.78
Price to book

At or below today's level on 0.1% of 1,964 trading days since Feb 2017.

LowestHighest
Its median8.05Industry median4.57
Dividend yield

At or below today's level on 63% of 2,460 trading days over the last 10 years.

LowestHighest
Its median0.30%Industry median0.67%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−9.4%+34.5%−32.9%0.3%
3 years+5.5%+25.0%−15.7%0.2%
5 years+2.9%+10.5%−7.1%0.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.ICICI Life Insurance shareholding pattern

Shareholding by group

  • Promoters74.70%
  • Foreign institutions9.26%
  • Indian institutions10.76%
  • Individuals and others5.27%
Holder
ICICI BANK LIMITEDPromoter52.83%
PRUDENTIAL CORPORATION HOLDINGS LIMITEDPromoter21.88%
COMPASSVALE INVESTMENTS PTE. LTD.Foreign companies1.98%
CAMAS INVESTMENTS PTE. LTD.Foreign portfolio investors, category I1.76%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I1.01%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters +1.97 pts, foreign institutions −0.96 pts, Indian institutions −1.06 pts, mutual funds −1.09 pts.

Mutual fund holdings

138 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 78 of the 92 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 138 funds holding ICICI Life Insurance

Bought again
2
Added
49
Cut
43
Held unchanged
41
Sold out
21
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.ICICI Life Insurance insider trading

Bought on the market Sold on the market
  • Others0 purchases, 1 saleNo purchase₹2.22 CrNet−₹2.22 Cr16 pledge filings of unclear kind
  • Promoters and promoter group: no market trade · 9 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

ICICI Life Insurance competitors and peers

Insurance, 12 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to ICICI Life Insurance in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Life Insurance Corporation of India logoLife Insurance Corporation of IndiaLICI4,95,1848.242.59+10.3%+23.3%36.3%–2.55%
SBI Life Insurance Company logoSBI Life Insurance CompanySBILIFE1,67,23862.988.14+16.9%+8.2%13.7%–0.16%
HDFC Life Insurance Company logoHDFC Life Insurance CompanyHDFCLIFE1,11,69354.535.74+17.8%+8.2%11.2%–0.41%
General Insurance Corporation of India logoGeneral Insurance Corporation of IndiaGICRE57,0366.410.93+4.3%+4.0%15.8%–4.08%
Max Financial Services logoMax Financial ServicesMFSL42,263–7.39+17.6%––4.1%0.00%
Star Health and Allied Insurance Company logoStar Health and Allied Insurance CompanySTARHEALTH30,56429.004.03–+97.7%14.4%–0.00%
The New India Assurance Company logoThe New India Assurance CompanyNIACL27,10037.781.11+10.5%−36.6%3.0%–0.91%
Go Digit General Insurance logoGo Digit General InsuranceGODIGIT24,24849.245.12+8.3%+6.6%11.0%–0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.ICICI Life Insurance dividend history

Dividend per share, ₹, restated for later splits and bonuses

5.3Mar 176.7Mar 183.2Mar 190.8Mar 202Mar 210.6Mar 220.6Mar 230.6Mar 240.9Mar 251.7Mar 26
Highest ₹6.70 a share, year to Mar 2018.
Ex-dateTypePer share
5 Jun 2026Final₹1.65
12 Jun 2025Final₹0.85
13 Jun 2024Final₹0.60
13 Jul 2023Final₹0.60
16 Jun 2022Final₹0.55
16 Jun 2021Final₹2.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.ICICI Life Insurance announcements

ICICI Life Insurance share price by year

Each calendar year to 2025.ICICI Life Insurance share price history

YearClose at year endChangeHighest closeLowest close
2025668.25+2.0%680.35536.60
2024654.85+22.4%791.05479.45
2023534.85+18.5%602.60384.05
2022451.30−19.5%615.65439.65
2021560.80+12.4%717.15422.05
2020498.85+3.4%527.00238.80
2019482.45+48.7%529.20284.75
2018324.50−15.4%455.45306.60
2017383.60+26.9%494.45307.10
2016302.25–330.90284.15
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2016 is from its first session, 29 Sep 2016.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026415.00416.20401.65409.55406.5326,69,62457.2%
26 Oct 2026415.50422.90413.35413.35417.4310,97,91948.9%
23 Oct 2026430.90430.90413.40422.20418.8216,01,00146.1%
22 Oct 2026427.00432.45422.55431.00427.9212,58,85652.7%
21 Oct 2026438.00439.25425.95431.50430.3912,48,20657.2%
19 Oct 2026445.50448.00435.05438.00438.4410,00,58050.8%
16 Oct 2026451.30451.30435.20445.00444.4339,14,52674.1%
15 Oct 2026447.25451.35445.55449.00448.8732,42,55668.1%
14 Oct 2026447.00460.20444.10445.00450.8823,46,15542.7%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.

Ex-dateEventPrice factorWhat happened
25 Mar 2020Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
23 Mar 2020Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
Each event is noted and not adjusted for.

Company details