ICICI Prudential Life Insurance Board Approves FY26 Results, Recommends ₹1.65 Dividend, Appoints New Auditor
ICICI Prudential Life Insurance approved FY26 results and recommended a ₹1.65 dividend per share. The company appointed Chaturvedi & Co LLP as a new joint statutory auditor. It also granted stock options for up to 3.4 million shares at ₹547.00 and stock units for up to 0.5 million units at ₹10.00. Rajiv Adhikari and Amit Palta resigned, while Amish Banker was appointed Chief Distribution Officer.
The approval of financial results, dividend recommendation, auditor changes, and significant stock option grants are material events that can impact investor decisions and the company's governance structure.
The company reported positive financial results, recommended a dividend, and made strategic appointments, indicating a healthy and forward-looking operational status.
ICICI Prudential Life Insurance Company Limited's Board of Directors met on April 14, 2026, approving the audited financial statements and results for the quarter and year ended March 31, 2026. The company reported unmodified audit opinions from joint statutory auditors Walker Chandiok & Co LLP and M. P. Chitale & Co.
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.
Walker Chandiok & Co LLP will retire as a Joint Statutory Auditor at the ensuing AGM after completing ten years. 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.
Furthermore, the company approved the grant of stock options under the Employees Stock Option Scheme (2005) for up to 3.4 million options at an exercise price of ₹547.00 per option. Additionally, stock units were granted under the Employees Stock Unit Scheme – 2023 for up to 0.5 million units at an exercise price of ₹10.00 per unit.
The Board also noted changes in senior management personnel. Mr. Rajiv Adhikari resigned as Head - Corporate Communications effective May 31, 2026. Mr. Amit Palta resigned as Chief Products and Distribution Officer effective May 31, 2026. Mr. Amish Banker was appointed as Chief Distribution Officer effective April 14, 2026.
The company also released its Embedded Value (EV) results as of March 31, 2026. The Value of New Business (VNB) was ₹26.29 crore, with a New Business Margin of 24.7%. The Embedded Value (EV) stood at ₹529.89 crore, showing a growth of 10.5% year-on-year. The Value of New Business (VNB) for FY2026 was ₹26.29 crore, an increase from ₹23.70 crore in FY2025. The New Business Margin improved to 24.7% from 22.8% in the previous year. The Embedded Value (EV) increased to ₹529.89 crore from ₹479.51 crore in the previous year.
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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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