ScoutQuest1 Oct 2026
ICICI Prudential Life Insurance Company540133Credit rating maintained/reaffirmed

ICRA [ICRA]AAA (Stable) reaffirmed on Rs. 2,600.00 crore subordinated debt programme of ICICI Life

2,600.00 (Rs. crore)Subordinated debt programme - rated amount
Amount rated - ISIN INE726G080221,400.00 (Rs. crore)
Amount rated - ISIN INE726G080301,200.00 (Rs. crore)
Subordinated debt programme - rated amount 2,600.00 (Rs. crore): Amount rated - ISIN INE726G08022 1,400.00 (Rs. crore), Amount rated - ISIN INE726G08030 1,200.00 (Rs. crore).
Rating Action
[ICRA]AAA/Stable reaffirmed; previous [ICRA]AAA/Stable
Instrument Rated
Rs. 2,600.00 crore subordinated debt programme
Promoter Stake
ICICI Bank promoter support (52.8% stake)
Solvency Ratio
solvency of 2.25x vs 1.50x required
Agency
ICRA Limited

ICRA [ICRA]AAA (Stable) reaffirmed on Rs. 2,600.00 crore subordinated debt programme of ICICI Life.

Rs. 2,629 crore+10.9%
FY2025Rs. 2,370 croreFY2026Rs. 2,629 crore
Value of business (VNB: Rs. 2,370 crore (FY2025) and Rs. 2,629 crore (FY2026).
[ICRA]AAAReaffirmed · ICRA Limited
Reaffirmed by ICRA Limited · [ICRA]AAA · outlook Stable.
More numbers
  • Subordinated debt programme - total amount rated2,600.00 (Rs. crore)
  • Subordinated debt programme - previous rated amount2,600.00 (Rs. crore)
  • Amount rated - ISIN INE726G080221,400.00 (Rs. crore)
  • Amount rated - ISIN INE726G080301,200.00 (Rs. crore)
  • Coupon rate - ISIN INE726G080228.03%
  • Coupon rate - ISIN INE726G080307.69%
  • Reported solvency ratio as on June 30, 20262.25 times
  • Value of new business (VNB) FY2026Rs. 2,629 crore
  • Value of new business (VNB) FY2025Rs. 2,370 crore
  • VNB growth year-on-year in FY202610.9%
Source: BSE · 1 Oct 2026

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