ICICI Prudential Life Insurance reported a significant 58% increase in profit after tax for the fourth quarter of FY26, totaling ₹609 crore, compared to ₹386 crore in the same period last year. For the full fiscal year, profits rose 35% to ₹1,600 crore, bolstered by gains from the sale of its stake in ICICI Pension Fund Management Company. The company's net premium income also saw a robust 17% growth, reaching ₹19,180 crore. Notably, one-time premiums surged by 46%, while renewal premiums rose nearly 6%. Anup Bagchi, MD and CEO, attributed the growth to recent GST reforms, which have made insurance policies more affordable, and highlighted a 50.9% year-on-year growth in the retail protection segment during the second half of FY26. The annualised premium equivalent (APE) sales, a critical indicator of new business, increased by 9.4% to ₹3,830 crore. The value of new business (VNB) rose by over 21% to ₹965 crore, reflecting a favorable product mix and improved margins, which expanded to 24.7% from 22.8% a year earlier. Despite these positive trends, growth in new business premiums remained muted, aligning with a broader industry focus on margin optimisation rather than aggressive growth.