ICICI Life Q2 FY27: PAT Rs 374.22 crore, Net premium Rs 13,803.90 crore
For the quarter ended September 30, 2026, ICICI Life reported net premium income of Rs 13,803.90 cr and PAT of Rs 374.22 cr, versus Rs 11,843.10 cr and Rs 299.26 cr a year earlier.
Key takeaways
- Net premium income was Rs 13,803.90 cr vs Rs 11,843.10 cr a year earlier.
- PAT for the quarter was Rs 374.22 cr vs Rs 299.26 cr in Q2 FY26.
- Policyholders’ total income (lines 2 to 5) was Rs 11,742.65 cr vs Rs 12,015.64 cr.
- Benefits Paid (Net) were Rs 12,923.89 cr vs Rs 11,276.81 cr a year earlier.
- Basic EPS for the quarter was 2.58 vs 2.07 in the corresponding prior period.
Q2 FY27 · standalone
| Metric | Sep 2026 | Sep 2025 | Change |
|---|---|---|---|
| Revenue | Rs 13,803.90 cr | Rs 11,843.10 cr | +16.5% |
| PAT | Rs 374.22 cr | Rs 299.26 cr | +25.0% |
As reported in the filing. Figures are transcribed, not computed.
What the numbers show
- Net margin was 2.71% of revenue, against 2.53% a year earlier.
- Revenue rose 16.6% while total expenses rose 0.2%.
Key numbers (standalone, quarter ended September 30, 2026)
All figures are from the statement of standalone unaudited results for the quarter and half year ended September 30, 2026.
- Net premium income (policyholders’ account): Rs 13,803.90 cr (Q2 FY26: Rs 11,843.10 cr)
- Income from investments (Net) – policyholders’ account: Rs (2,123.29) cr (Q2 FY26: Rs (226.67) cr)
- Other income – policyholders’ account: Rs 66.25 cr (Q2 FY26: Rs 57.92 cr)
- Transfer of funds from Shareholders’ A/c: Rs (4.21) cr (Q2 FY26: Rs 341.29 cr)
- Total (policyholders’ income lines 2 to 5): Rs 11,742.65 cr (Q2 FY26: Rs 12,015.64 cr)
- Net Commission: Rs 1,375.55 cr (Q2 FY26: Rs 1,203.76 cr)
- Expenses of Management (including commission and operating expenses): Rs 2,654.17 cr (Q2 FY26: Rs 2,151.84 cr)
- Provisions for doubtful debts (policyholders): Rs 5.70 cr (Q2 FY26: Rs 20.41 cr)
- Goods and Services tax on ULIP charges: Rs 8.96 cr (Q2 FY26: Rs 154.27 cr)
- Provision for taxes (policyholders’ account): Rs 10.45 cr (Q2 FY26: Rs 46.82 cr)
- Benefits Paid (Net): Rs 12,923.89 cr (Q2 FY26: Rs 11,276.81 cr)
- Change in actuarial liability: Rs (4,050.23) cr (Q2 FY26: Rs (2,119.43) cr)
- Total (policyholders’ expenses, lines 10 to 16): Rs 11,552.94 cr (Q2 FY26: Rs 11,530.72 cr)
- Surplus/(Deficit) in policyholders’ account: Rs 189.71 cr (Q2 FY26: Rs 484.92 cr)
Shareholders’ account (quarter ended September 30, 2026)
- Transfer from Policyholders’ Account: Rs 131.00 cr (Q2 FY26: Rs 420.32 cr)
- Investment Income (shareholders): Rs 350.73 cr (Q2 FY26: Rs 318.33 cr)
- Other income (shareholders): Rs 1.97 cr (Q2 FY26: Rs 0.22 cr)
- Expenses other than those related to insurance business: Rs 52.59 cr (Q2 FY26: Rs 50.57 cr)
- Transfer of funds to Policyholders A/c: Rs (4.21) cr (Q2 FY26: Rs 341.29 cr)
- Provisions for diminution in value of investments (shareholders): Rs - (Q2 FY26: Rs -)
- Profit/(loss) before tax: Rs 435.32 cr (Q2 FY26: Rs 347.01 cr)
- Provisions for tax (shareholders): Rs 61.10 cr (Q2 FY26: Rs 47.75 cr)
- Profit/(loss) after tax and extraordinary items (PAT): Rs 374.22 cr (Q2 FY26: Rs 299.26 cr)
- Basic EPS (Rs): 2.58 (Q2 FY26: 2.07)
- Diluted EPS (Rs): 2.57 (Q2 FY26: 2.06)
Capital and reserves (at September 30, 2026)
- Paid up equity share capital: Rs 1,451.23 cr (Q2 FY26: Rs 1,446.77 cr)
- Reserve & Surplus (excluding Revaluation Reserve): Rs 12,785.66 cr (Q2 FY26: Rs 11,069.10 cr)
- Fair value Change Account and revaluation reserve: Rs 396.39 cr (Q2 FY26: Rs 211.38 cr)
In the policyholders’ account, net premium income for the quarter ended September 30, 2026 rose to Rs 13,803.90 cr from Rs 11,843.10 cr in the corresponding quarter of the previous year, as shown in the statement of financial results. Income from investments (Net) in the policyholders’ account moved to Rs (2,123.29) cr from Rs (226.67) cr, while total income (lines 2 to 5) was Rs 11,742.65 cr versus Rs 12,015.64 cr a year earlier.
On the expense side, Net Commission increased to Rs 1,375.55 cr from Rs 1,203.76 cr, and Expenses of Management (including commission and operating expenses) rose to Rs 2,654.17 cr from Rs 2,151.84 cr. Benefits Paid (Net) were Rs 12,923.89 cr compared with Rs 11,276.81 cr in the year-ago quarter, and the Change in actuarial liability was Rs (4,050.23) cr versus Rs (2,119.43) cr. The policyholders’ account reported a surplus of Rs 189.71 cr, down from Rs 484.92 cr in the corresponding quarter.
In the shareholders’ account, Profit/(loss) before tax for the quarter ended September 30, 2026 was Rs 435.32 cr, up from Rs 347.01 cr in the same quarter last year, according to the statement of financial results. After a tax provision of Rs 61.10 cr (Q2 FY26: Rs 47.75 cr), Profit/(loss) after tax and extraordinary items stood at Rs 374.22 cr, compared with Rs 299.26 cr a year earlier. Basic EPS for the quarter was 2.58, versus 2.07 in the corresponding prior period, and diluted EPS was 2.57 versus 2.06.
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