ICICI Prudential Life Insurance Approves FY26 Results, Recommends ₹1.65 Dividend, Appoints New Auditor
ICICI Prudential Life Insurance approved audited FY26 results and recommended a final dividend of ₹1.65 per share. Chaturvedi & Co LLP appointed as new joint statutory auditor. Up to 3.4 million stock options and 0.5 million stock units granted to employees. Resignations of Rajiv Adhikari and Amit Palta noted, Amish Banker appointed Chief Distribution Officer.
The announcement includes key financial results, a dividend recommendation, significant changes in statutory auditors, and changes in senior management, all of which can have a substantial impact on investor perception and the company's operations.
The company reported positive financial results, recommended a dividend, and appointed a new auditor, all of which are generally viewed positively by investors. The stock option grants also indicate a focus on employee retention and incentivization.
ICICI Prudential Life Insurance Company Limited announced the outcome of its Board Meeting held on April 14, 2026. The Board approved the audited financial statements and results (standalone and consolidated) for the quarter and year ended March 31, 2026. The company reported that its joint statutory auditors, Walker Chandiok & Co LLP and M. P. Chitale & Co., issued audit reports with an unmodified opinion.
The Board recommended a final dividend of ₹1.65 per equity share, subject to shareholder approval at the upcoming Annual General Meeting (AGM). This dividend will be paid within 30 days of its declaration at the AGM.
In a significant change, Walker Chandiok & Co LLP, having completed ten years of service, will retire as a Joint Statutory Auditor at the ensuing AGM. Chaturvedi & Co LLP has been appointed as a new joint statutory auditor for a term of four consecutive years, commencing from the conclusion of the 26th AGM until the conclusion of the 30th AGM, pending shareholder approval. Chaturvedi & Co LLP, established in 1963, brings extensive experience in statutory audits, particularly within the insurance sector.
The company also approved the grant of stock options and stock units to eligible employees. Up to 3.4 million options will be granted under the Employees Stock Option Scheme (2005) at an exercise price of ₹547.00 per option. Additionally, up to 0.5 million units will be granted under the Employees Stock Unit Scheme (2023) at an exercise price of ₹10 per unit.
Changes in senior management personnel were also noted. Mr. Rajiv Adhikari's resignation as Head - Corporate Communications is effective May 31, 2026. Mr. Amit Palta's resignation as Chief Products and Distribution Officer is effective May 31, 2026. Mr. Amish Banker has been appointed as Chief Distribution Officer, effective April 14, 2026. Mr. Banker, with 25 years of experience in the company, currently serves as Chief Operations Officer.
The company also provided details on its Embedded Value (EV) as of March 31, 2026, which stood at ₹529.89 billion, an increase from ₹479.51 billion as of March 31, 2025. The Value of New Business (VNB) for FY2026 was ₹26.29 billion, with a New Business Margin of 24.7%. The Embedded Value operating earnings (EVOP) were ₹57.02 billion, and the Return on Embedded Value (ROEV) was 11.9%.
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ICICI Prudential Life Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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