ICICI Prudential Life Insurance Company is a prominent player in the insurance sector, specializing in life insurance, pensions, and health insurance products catering to both individuals and groups. Operating in participating, non-participating, and unit-linked lines of business, the company employs a diverse distribution network including individual agents, corporate agents, banks, brokers, sales force, and its official website. In this comprehensive article, we delve into various aspects of ICICI Prudential Life Insurance, exploring its product offerings, distribution channels, and overall impact on the insurance landscape.
About ICICI Prudential Life Insurance Company
ICICI Prudential Life Insurance Company Limited, established in 2001 through a collaboration between ICICI Bank Limited and Prudential Corporation Holdings Limited, has emerged as a leading player in India’s life insurance sector. With a customer-centric approach, the company offers a wide range of long-term savings and protection products tailored to meet diverse life stage requirements. Over the years, it has achieved significant milestones, including being the first private life insurer to reach assets under management of ₹1 trillion in FY2015 and becoming the first insurance company in India to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Guided by its core values of Customer First, Humility, Passion, Integrity, and Boundarylessness, ICICI Prudential Life is committed to building an enduring institution that serves customers’ protection and long-term saving needs with sensitivity.
ICICI Prudential Life Insurance Q4FY24 Earnings Summary
- ICICI Prudential Life Insurance Company’s Q4 FY24 results showed a 26% decrease in profit after tax, amounting to ₹174 crore compared to the previous year.
- The decline in profit was attributed to a 19.5% drop in the new business margin, which fell to ₹2,227 crore for the fiscal year ending March 31.
- This reduction in new business margin was influenced by a shift in customer preference towards low-margin products like unit-linked insurance plans (ULIPs), amidst a robust domestic equity market.
- Persistent decline in demand for high-value policies and changes in tax implementation also contributed to the decrease in VNB margins, which dropped from 32% to 24.6% year-on-year.
- The increased contribution of the linked segment, accounting for 43.2% of the overall product mix by annualised premium equivalent (APE), further impacted VNB margins.
- Despite these challenges, ICICI Prudential reported a 17% growth in net premium income to ₹14,788 crore for the three months ended March 31, showcasing resilience amidst changing market dynamics.
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➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| April 2024 | 581.90 | 506.00 |
| May 2024 | 573.30 | 498.52 |
| June 2024 | 593.94 | 516.47 |
| July 2024 | 588.00 | 511.30 |
| August 2024 | 611.52 | 531.76 |
| September 2024 | 635.98 | 553.03 |
| October 2024 | 623.51 | 542.18 |
| November 2024 | 648.45 | 563.87 |
| December 2024 | 654.94 | 569.51 |
In April 2024, ICICI Prudential Life Insurance’s share price is projected to reach a maximum of ₹581.90 and a minimum of ₹506.00. As the months progress, a gradual uptrend is anticipated in both maximum and minimum prices, with peaks expected in December 2024 at ₹654.94 for the maximum and ₹569.51 for the minimum. These projections reflect the market’s optimism and potential growth prospects for ICICI Prudential Life Insurance during the specified period.
| When | Maximum Price | Minimum Price |
| January 2025 | 720.43 | 554.18 |
| February 2025 | 727.71 | 559.77 |
| March 2025 | 742.99 | 571.53 |
| April 2025 | 735.63 | 565.87 |
| May 2025 | 714.21 | 549.39 |
| June 2025 | 746.34 | 574.11 |
| July 2025 | 731.71 | 562.85 |
| August 2025 | 754.34 | 580.26 |
| September 2025 | 763.39 | 587.23 |
| October 2025 | 783.24 | 602.49 |
| November 2025 | 802.82 | 617.56 |
| December 2025 | 838.95 | 645.35 |
As we step into January 2025, ICICI Prudential Life Insurance’s share prices are expected to soar, with a maximum reaching ₹720.43 and a minimum hovering around ₹554.18. Throughout the year, these figures are anticipated to gradually rise, reflecting sustained investor confidence and positive market sentiment. By December 2025, the share prices are projected to peak at ₹838.95 for the maximum and ₹645.35 for the minimum, indicating a promising trajectory for ICICI Prudential Life Insurance in the coming year.
| When | Maximum Price | Minimum Price |
| January 2026 | 864.12 | 664.71 |
| February 2026 | 886.27 | 681.75 |
| March 2026 | 920.84 | 708.34 |
| April 2026 | 902.78 | 694.45 |
| May 2026 | 876.49 | 674.22 |
| June 2026 | 915.93 | 704.56 |
| July 2026 | 897.97 | 690.75 |
| August 2026 | 925.74 | 712.11 |
| September 2026 | 958.14 | 737.03 |
| October 2026 | 983.06 | 756.20 |
| November 2026 | 1,007.63 | 775.10 |
| December 2026 | 1,032.82 | 794.48 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,053.48 | 810.37 |
| February 2027 | 1,080.49 | 831.15 |
| March 2027 | 1,122.63 | 863.56 |
| April 2027 | 1,100.62 | 846.63 |
| May 2027 | 1,068.56 | 821.97 |
| June 2027 | 1,116.65 | 858.96 |
| July 2027 | 1,094.75 | 842.12 |
| August 2027 | 1,128.61 | 868.16 |
| September 2027 | 1,168.11 | 898.55 |
| October 2027 | 1,198.48 | 921.91 |
| November 2027 | 1,228.45 | 944.96 |
| December 2027 | 1,259.16 | 968.58 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,284.34 | 987.95 |
| February 2028 | 1,317.27 | 1,013.29 |
| March 2028 | 1,368.64 | 1,052.80 |
| April 2028 | 1,341.81 | 1,032.16 |
| May 2028 | 1,302.73 | 1,002.10 |
| June 2028 | 1,361.35 | 1,047.19 |
| July 2028 | 1,334.66 | 1,026.66 |
| August 2028 | 1,375.93 | 1,058.41 |
| September 2028 | 1,424.09 | 1,095.46 |
| October 2028 | 1,461.12 | 1,123.94 |
| November 2028 | 1,497.65 | 1,152.04 |
| December 2028 | 1,535.09 | 1,180.84 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,565.79 | 1,204.45 |
| February 2029 | 1,605.94 | 1,235.34 |
| March 2029 | 1,668.57 | 1,283.51 |
| April 2029 | 1,635.85 | 1,258.35 |
| May 2029 | 1,588.21 | 1,221.70 |
| June 2029 | 1,659.68 | 1,276.67 |
| July 2029 | 1,627.13 | 1,251.64 |
| August 2029 | 1,677.46 | 1,290.35 |
| September 2029 | 1,736.17 | 1,335.51 |
| October 2029 | 1,781.31 | 1,370.24 |
| November 2029 | 1,825.84 | 1,404.49 |
| December 2029 | 1,871.49 | 1,439.61 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,908.92 | 1,468.40 |
| February 2030 | 1,957.86 | 1,506.05 |
| March 2030 | 2,034.22 | 1,564.78 |
| April 2030 | 1,994.33 | 1,534.10 |
| May 2030 | 1,936.25 | 1,489.42 |
| June 2030 | 2,023.38 | 1,556.44 |
| July 2030 | 1,983.70 | 1,525.93 |
| August 2030 | 2,045.05 | 1,573.12 |
| September 2030 | 2,116.63 | 1,628.18 |
| October 2030 | 2,171.66 | 1,670.51 |
| November 2030 | 2,225.96 | 1,712.27 |
| December 2030 | 2,281.60 | 1,755.08 |
Throughout 2030, ICICI Prudential Life Insurance’s share prices are projected to experience consistent growth, with each month witnessing a gradual increase. In January, the maximum price is anticipated to reach ₹1,908.92, while the minimum is expected to be around ₹1,468.40. As the year progresses, these figures are forecasted to steadily rise, culminating in December with a maximum price of ₹2,281.60 and a minimum of ₹1,755.08. This upward trend reflects sustained investor confidence and positive market sentiment towards ICICI Prudential Life Insurance throughout the year.
ICICI Prudential Life Insurance Financial Condition: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 21,025 | 83,182 | 62,305 | 49,404 | 89,683 |
| Expenses + | 21,344 | 83,572 | 63,563 | 50,204 | 90,684 |
| Operating Profit | -319 | -390 | -1,258 | -800 | -1,001 |
| OPM % | -2% | 0% | -2% | -2% | -1% |
| Other Income + | 1,578 | 1,669 | 2,285 | 1,968 | 2,029 |
| Interest | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 61 | 60 | 67 | 84 | 0 |
| Profit before tax | 1,198 | 1,219 | 961 | 1,085 | 1,028 |
| Tax % | 11% | 22% | 21% | 25% | 17% |
| Net Profit + | 1,067 | 956 | 759 | 813 | 851 |
| EPS in Rs | 7.43 | 6.66 | 5.28 | 5.65 | 5.9 |
| Dividend Payout % | 11% | 30% | 10% | 11% | 10% |
- Sales: The company experienced fluctuations in sales over the five-year period, reaching a peak of ₹89,683 crores in March 2024 after a decline from the previous year.
- Expenses: Operating expenses also followed a similar pattern, peaking at ₹90,684 crores in March 2024, mirroring the trend in sales.
- Operating Profit: The company reported negative operating profits in most years, indicating challenges in managing costs effectively relative to revenue generation.
- Other Income: Other income increased steadily over the period, reaching ₹2,029 crores in March 2024, contributing positively to the company’s overall profitability.
- Net Profit: Despite fluctuations, the company maintained a relatively stable net profit, with a slight increase to ₹851 crores in March 2024 compared to the previous year.
- Earnings Per Share (EPS): EPS experienced fluctuations, reflecting changes in net profit and the number of outstanding shares.
- Dividend Payout %: The company maintained a consistent dividend payout percentage, ranging from 10% to 30% over the five-year period, indicating its commitment to returning value to shareholders.
FAQs
What is the current market capitalization of ICICI Prudential Life Insurance?
The current market capitalization of ICICI Prudential Life Insurance stands at ₹82,843 Crores.
As of April 24, 2024, the current share price of ICICI Prudential Life Insurance is ₹575.
The projected share price targets for 2024 suggest a potential increase, with a range of ₹498.52 to ₹654.94 throughout the year.
The share price targets for 2025 indicate potential growth, ranging from ₹549.39 to ₹838.95 across the months.
The share price targets for 2026 project growth, with the range varying from ₹1,468.40 to ₹2,281.60 throughout the Year.
Also Read
In conclusion, ICICI Prudential Life Insurance Company stands as a prominent player in India’s insurance sector, offering a diverse range of life insurance, pensions, and health insurance products. Established in 2001, the company has demonstrated resilience and achieved significant milestones, including reaching assets under management of ₹1 trillion in FY2015 and being the first insurance company in India to be listed on both the NSE and BSE. Despite facing challenges such as a 26% decrease in profit after tax in Q4 FY24, ICICI Prudential Life Insurance remains committed to its core values of Customer First, Humility, Passion, Integrity, and Boundarylessness. Looking ahead, the company’s projected share price targets for 2025 and beyond indicate potential growth and sustained investor confidence, reflecting its positive trajectory in the insurance landscape. As ICICI Prudential charts its course amid market complexities, investors are advised to scrutinize these aspects for a judicious investment decision.
What did we learn?
- 1 About ICICI Prudential Life Insurance Company
- 2 ICICI Prudential Life Insurance Q4FY24 Earnings Summary
- 3 How to Purchase ICICI Prudential Life Insurance Shares?
- 4 ICICI Prudential Life Insurance Share Price Target 2024 – 2030
- 4.1 ICICI Prudential Life Insurance Share Price Target 2024
- 4.2 ICICI Prudential Life Insurance Share Price Prediction 2025
- 4.3 ICICI Prudential Life Insurance Share Price Target 2026
- 4.4 ICICI Prudential Life Insurance Share Price Target 2027
- 4.5 ICICI Prudential Life Insurance Share Price Target 2028
- 4.6 ICICI Prudential Life Insurance Share Price Target 2029
- 4.7 ICICI Prudential Life Insurance Share Price Prediction 2030
- 5 ICICI Prudential Life Insurance Financial Condition: Last 5 Years
- 6 FAQs
- 6.1 What is the current market capitalization of ICICI Prudential Life Insurance?
- 6.2 What is the current share price of ICICI Prudential Life Insurance?
- 6.3 What is the company’s 2024 share price target range?
- 6.4 What is the 2025 share price target range for ICICI Prudential Life Insurance?
- 6.5 What is the anticipated share price range for ICICI Prudential Life Insurance in 2030?
- 7 Conclusion: Navigating Excellence in Turbulent Markets
