India's largest private sector general insurer's loss ratios in crop and fire lines increased during FY2026, however the business saw profits rise by over 10%.
A sharper tilt towards protection, improving cost efficiency and a changing distribution mix helped ICICI Prudential Life strengthen profitability in FY2026.
Despite the weaker Asia performance, the reinsurer is eyeing expansion into China, India, and Southeast Asia under its new VIGRe28 strategy, as it prepares to open a Singapore office.
The individual agent channel, which remains the primary driver of value creation, accounted for 85.9% of total VNB in 2025, contributing 39.3bn yuan, up 25.5% year on year.
Group life insurance and reinsurance segments posted strong growth, offsetting flat insurance revenue and losses in Hong Kong property and casualty operations.
Group’s record 2025 results set the stage for a pivotal year ahead, as the pan-Asian life insurer bets on AI, expansion across China’s provinces, and deepening wealth partnerships.
