HDFC Life Insurance
HDFC Life reported FY26 PAT of ₹1,910 crore and VNB of ₹4,340 crore (+2% YoY), with new business margins at 24.2% (down 140bps YoY) due to GST/surrender value impact (130bps), fixed cost absorption (90bps), and assump...
HDFC Life Insurance vs ICICI Prudential Life Q4 FY26
Side-by-side earnings comparison across verified financials, sentiment, risks, and management commentary.
ICICI Prudential Life
ICICI Prudential Life reported a mixed FY26 with PAT up 34.6% YoY to ₹16B, driven by higher investment income including a ₹1.14B gain from sale of a subsidiary.
Result Snapshot
Revenue₹19,890 Cr₹3,185 Cr
PAT₹497 Cr₹624 Cr
EBITDA Margin1%-24%
Sentimentneutralneutral
Key Quotes
We have maintained pricing discipline in this segment and while this has had a near-term impact on volumes, it positions us better from a long-term value and margin standpoint.
Our focus is on growing the absolute VNB which we have been able to achieve through improvement in product mix and operational efficiencies even after accounting for the unavailability of input tax credit.