ICICI Prudential Life Insurance Company Limited

Statement of Standalone Audited Results for the quarter ended June 30, 2021

(` in Lakhs)

Three months ended/at

Year ended/at

Sr

Particulars

No.

June 30, 2021

March 31, 2021

June 30, 2020

March 31, 2021

(Audited)

(Audited)

(Audited)

(Audited)

POLICYHOLDERS' A/C

1

Gross premium income

(a)

First Year Premium

88,026

202,932

62,754

518,720

(b)

Renewal Premium

413,746

691,262

413,980

2,250,676

(c)

Single Premium

185,227

315,867

97,938

803,886

2

Net premium income1

660,185

1,187,928

555,107

3,497,337

3

Income from investments: (Net)2

921,027

714,277

1,306,718

4,743,758

4

Other income

2,434

2,279

2,283

9,340

5

Transfer of funds from Shareholders' A/c

88,759

59,369

41,634

157,478

6

Total (2 to 5)

1,672,405

1,963,853

1,905,742

8,407,913

7

Commission on

(a)

First Year Premium

15,824

36,064

12,216

93,061

(b)

Renewal Premium

7,451

12,437

7,165

39,833

(c)

Single Premium

2,440

4,777

635

10,107

8

Net Commission3

27,056

55,757

20,674

150,022

9

Operating Expenses related to insurance business (a+b+c):

(a)

Employees remuneration and welfare expenses5

29,129

32,483

21,166

99,246

(b)

Advertisement and publicity

25,497

33,740

10,564

91,428

(c)

Other operating expenses

22,167

19,152

17,660

78,152

10

Expenses of Management (8+9)

103,849

141,132

70,064

418,848

11

Provisions for doubtful debts (including bad debts written off)

97

111

66

366

12

Provisions for diminution in value of investments

-

-

2,012

2,012

13

Goods and Service tax charge on linked charges

15,886

18,166

14,328

65,464

14

Provision for taxes (a+b)

-

5,967

2,270

14,185

(a)

Current tax

-

5,967

2,270

14,185

(b)

Deferred tax

-

-

-

-

15

Benefits Paid 4 (Net)1

566,759

831,762

259,612

2,264,090

16

Change in actuarial liability

970,312

913,661

1,494,275

5,432,410

17

Total (10+11+12+13+14+15+16)

1,656,903

1,910,799

1,842,627

8,197,375

18

Surplus/(Deficit) (6-17)

15,502

53,054

63,115

210,538

19

Appropriations

(a)

Transferred to Shareholders

28,927

47,557

64,614

198,486

(b)

Funds for Future Appropriations

(13,425)

5,497

(1,499)

12,051

20

Details of Surplus/(Deficit)

(a)

Interim bonus paid

3,526

3,865

1,811

11,623

(b)

Allocation of bonus to policyholders

-

60,824

-

60,824

(c)

Surplus shown in the Revenue Account

15,502

53,054

63,115

210,538

Total Surplus

19,028

117,743

64,926

282,985

SHAREHOLDERS' A/C

21

Transfer from Policyholders' Account

28,927

47,557

64,614

198,486

22

Total income under Shareholders' Account

(a)

Investment Income

39,860

25,923

12,742

76,868

(b)

Other income

54

(32)

17

28

23

Expenses other than those related to insurance business5

2,456

2,452

1,762

6,115

24

Transfer of funds to Policyholders A/c

88,759

59,369

41,634

157,478

25

Provisions for doubtful debts (including write off)

(791)

260

-

791

26

Provisions for diminution in value of investments

-

-

2,858

2,858

27

Profit/ (loss) before tax

(21,583)

11,367

31,119

108,140

28

Provisions for tax (a+b)

(3,010)

4,989

2,360

12,125

(a)

Current tax (credit)/charge

-

4,989

2,360

12,125

(b)

Deferred tax (credit)/charge

(3,010)

-

-

-

29

Profit/(loss) after tax and before extraordinary items

(18,573)

6,378

28,759

96,015

30

Extraordinary Items (Net of tax expenses)

-

-

-

-

31

Profit/(loss) after tax and extraordinary items

(18,573)

6,378

28,759

96,015

32

Dividend per share (`) (Nominal Value ` 10 per share):

(a)

Interim Dividend

-

-

-

-

(b)

Final Dividend

-

2.00

-

2.00

33

Profit/(Loss) carried to Balance Sheet

313,775

361,078

293,822

361,078

34

Paid up equity share capital

143,659

143,597

143,587

143,597

35

Reserve & Surplus (excluding Revaluation Reserve)

659,334

704,377

636,745

704,377

36

Fair value Change Account and revaluation reserve

45,631

63,912

(809)

63,912

37

Total Assets:

(a)

Investments:

- Shareholders'

924,144

1,009,016

717,036

1,009,016

- Policyholders Fund excluding Linked Assets

6,684,791

6,357,256

5,109,160

6,357,256

- Assets held to cover Linked Liabilities

14,508,545

13,854,914

11,025,111

13,854,914

(b)

Other Assets (Net of current liabilities and provisions)

132,884

128,759

108,993

128,759

  1. Net of reinsurance
  2. Net of amortisation and losses (including capital gains)
  3. Inclusive of rewards and/or remuneration to agents, brokers or other intermediaries
  4. Inclusive of interim bonus
  5. Inclusive of remuneration of MD/CEOs/ WTDs over specified limits and interest on debentures

ICICI Prudential Life Insurance Company Limited

Standalone Balance Sheet at June 30, 2021

(` in Lakhs)

At June 30,

At March 31,

At June 30,

Particulars

2021

2021

2020

(Audited)

(Audited)

(Audited)

Sources of funds

Shareholders' funds :

Share capital

143,659

143,597

143,587

Share application money

35

55

-

Reserve and surplus

661,669

706,712

639,330

Credit/[debit] fair value change account

43,296

61,577

(3,394)

Sub - total

848,659

911,941

779,523

Borrowings

120,000

120,000

-

Policyholders' funds :

Credit/[debit] fair value change account

306,162

299,349

114,124

Revaluation reserve - Investment property

6,867

6,867

6,553

Policy liabilities (A)+(B)+(C)

20,846,783

19,876,470

15,938,334

Non unit liabilities (mathematical reserves) (A)

6,338,238

6,021,556

4,913,223

Insurance Reserve

-

-

-

Provision for linked liabilities (fund reserves) (B)

13,359,105

12,777,040

10,101,879

(a) Provision for linked liabilities

10,788,541

10,585,509

9,861,339

(b) Credit/[debit] fair value change account (Linked)

2,570,564

2,191,531

240,540

Funds for discontinued policies (C)

1,149,440

1,077,874

923,232

(a) Discontinued on account of non-payment of premium

1,163,151

1,086,806

918,913

(b) Other discontinuance

6,178

6,180

4,296

(c) Credit/[debit] fair value change account

(19,889)

(15,112)

23

Total linked liabilities (B)+(C)

14,508,545

13,854,914

11,025,111

Sub - total

21,279,812

20,302,686

16,059,011

Funds for Future Appropriations

Non linked

121,893

135,318

121,766

Sub - total

121,893

135,318

121,766

Total

22,250,364

21,349,945

16,960,300

Application of funds

Investments

Shareholders'

924,144

1,009,016

717,036

Policyholders'

6,684,791

6,357,256

5,109,160

Asset held to cover linked liabilities

14,508,545

13,854,914

11,025,111

Loans

71,375

66,282

49,200

Fixed assets - net block

45,243

45,719

46,840

Deferred tax asset

3,010

-

-

Current assets

Cash and Bank balances

106,286

55,740

81,222

Advances and Other assets

439,862

333,882

306,145

Sub-Total (A)

546,148

389,622

387,367

Current liabilities

529,353

370,541

371,854

Provisions

3,539

2,323

2,560

Sub-Total (B)

532,892

372,864

374,414

Net Current Assets (C) = (A-B)

13,256

16,758

12,953

Miscellaneous expenditure (to the extent not written-off or adjusted)

-

-

-

Debit Balance in Profit & Loss Account (Shareholders' account)

-

-

-

Total

22,250,364

21,349,945

16,960,300

Contingent liabilities

130,562

131,164

124,977

ICICI Prudential Life Insurance Company Limited

Segment1 Reporting (Standalone) for the quarter ended June 30, 2021

(` in Lakhs)

Three months ended/at

Year ended/at

Sr

Particulars

June 30, 2021

March 31,

June 30, 2020

March 31,

No.

2021

2021

(Audited)

(Audited)

(Audited)

(Audited)

1

Segment Income:

Segment A: Par life

Net Premium

74,559

133,877

71,162

432,247

Income from investments2

68,452

94,025

26,012

210,078

Transfer of Funds from shareholders' account

-

4,901

-

4,901

Other income

772

730

457

2,456

Segment B: Par pension

Net Premium

258

1,110

265

26,980

Income from investments2

2,656

6,513

2,180

14,849

Transfer of Funds from shareholders' account

-

-

-

-

Other income

1

1

2

4

Segment C: Non Par Life

Net Premium

126,388

223,129

55,424

537,349

Income from investments2

58,615

77,183

42,765

242,095

Transfer of Funds from shareholders' account

85,552

39,524

40,811

137,280

Other income

707

694

521

2,450

Segment D: Non Par Pension

Net Premium

2,000

298

2,500

2,798

Income from investments2

131

95

60

339

Transfer of Funds from shareholders' account

-

5

23

49

Other income

-

-

-

-

Segment E: Non Par Variable

Net Premium

568

2,141

426

4,770

Income from investments2

1,036

470

395

1,727

Transfer of Funds from shareholders' account

-

-

-

-

Other income

-

-

-

-

Segment F: Non Par Variable Pension

Net Premium

1,031

1,082

-

1,623

Income from investments2

332

308

281

1,187

Transfer of Funds from shareholders' account

-

-

-

-

Other income

-

-

-

-

Segment G: Annuity Non Par

Net Premium

55,913

108,251

21,561

229,245

Income from investments2

12,542

12,768

14,089

47,821

Transfer of Funds from shareholders' account

3,139

15,247

-

15,247

Other income

11

1

2

6

Segment H: Health

Net Premium

722

991

688

3,302

Income from investments2

115

103

99

443

Transfer of Funds from shareholders' account

68

(309)

268

-

Other income

1

-

-

2

Segment I: Linked Life

Net Premium

347,555

613,227

352,696

1,955,032

Income from investments2

708,605

485,218

1,072,454

3,795,053

Transfer of Funds from shareholders' account

-

-

-

-

Other income

923

852

1,300

4,413

Segment J: Linked Pension

Net Premium

4,115

7,549

4,587

22,551

Income from investments2

43,505

29,339

90,666

282,022

Transfer of Funds from shareholders' account

-

-

-

-

Other income

1

-

-

1

Segment K: Linked Health

Net Premium

590

1,868

695

4,047

Income from investments2

5,340

3,768

9,997

32,006

Transfer of Funds from shareholders' account

-

-

424

-

Other income

-

-

-

-

Segment L: Linked Group Life

Net Premium

40,147

59,293

31,816

218,343

Income from investments2

11,511

1,787

25,734

62,684

Transfer of Funds from shareholders' account

-

-

108

-

Other income

17

1

1

7

Segment1 Reporting (Standalone) for the quarter ended June 30, 2021

(` in Lakhs)

Three months ended/at

Year ended/at

Sr

Particulars

June 30, 2021

March 31,

June 30, 2020

March 31,

No.

2021

2021

(Audited)

(Audited)

(Audited)

(Audited)

Segment M: Linked Group Pension

Net Premium

6,339

35,112

13,287

59,050

Income from investments2

8,187

2,700

19,974

51,442

Transfer of Funds from shareholders' account

-

-

-

-

Other income

1

-

-

1

Shareholders

Income from investments2

39,860

25,923

9,884

74,010

Other income

54

(32)

17

28

2

Segment Surplus/(Deficit) (net of transfer from

shareholders' A/c) :

Segment A: Par life

(14,510)

9,337

(3,100)

9,377

Segment B: Par pension

1,085

(691)

1,600

5,824

Segment C: Non Par Life

(85,552)

(29,731)

(40,811)

(127,486)

Segment D: Non Par Pension

6

(5.00)

(23)

(49)

Segment E: Non Par Variable

630

130

90

432

Segment F: Non Par Variable Pension

45

55

133

294

Segment G: Annuity Non Par

(3,139)

(17,323)

4,679

(15,247)

Segment H: Health

(68)

3,561

(268)

3,252

Segment I: Linked Life

24,357

23,838

55,595

157,610

Segment J: Linked Pension

3,083

3,250

4,013

13,608

Segment K: Linked Health

246

923

(424)

3,910

Segment L: Linked Group Life

182

252

(108)

309

Segment M: Linked Group Pension

378

89

105

1,226

Shareholders

41,259

18,190

5,779

55,007

3

Segment Assets:

Segment A: Par life

2,546,479

2,453,298

1,985,186

2,453,298

Segment B: Par pension

150,045

147,941

115,759

147,941

Segment C: Non Par Life

3,181,040

3,026,882

2,454,105

3,026,882

Segment D: Non Par Pension

7,394

5,630

5,055

5,630

Segment E: Non Par Variable

15,899

23,315

20,563

23,315

Segment F: Non Par Variable Pension

17,045

17,153

14,967

17,153

Segment G: Annuity Non Par

769,801

711,375

483,534

711,375

Segment H: Health

3,776

3,513

5,569

3,513

Segment I: Linked Life

12,795,714

12,155,858

9,464,848

12,155,858

Segment J: Linked Pension

794,606

774,323

740,507

774,323

Segment K: Linked Health

106,393

103,128

88,291

103,128

Segment L: Linked Group Life

520,369

514,591

441,510

514,591

Segment M: Linked Group Pension

373,144

380,997

360,883

380,997

Shareholders

968,659

1,031,941

779,523

1,031,941

4

Segment Policy Liabilities:

Segment A: Par life

2,546,479

2,453,298

1,985,186

2,453,298

Segment B: Par pension

150,045

147,941

115,759

147,941

Segment C: Non Par Life

3,181,040

3,026,882

2,454,105

3,026,882

Segment D: Non Par Pension

7,394

5,630

5,055

5,630

Segment E: Non Par Variable

15,899

23,315

20,563

23,315

Segment F: Non Par Variable Pension

17,045

17,153

14,967

17,153

Segment G: Annuity Non Par

769,801

711,375

483,534

711,375

Segment H: Health

3,776

3,513

5,569

3,513

Segment I: Linked Life

12,795,714

12,155,858

9,464,848

12,155,858

Segment J: Linked Pension

794,606

774,323

740,507

774,323

Segment K: Linked Health

106,393

103,128

88,291

103,128

Segment L: Linked Group Life

520,369

514,591

441,510

514,591

Segment M: Linked Group Pension

373,144

380,997

360,883

380,997

Footnotes:

  1. Segments are as under:
    1. Linked Policies (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable
    2. Non-Linked
      1. Non-ParticipatingPolicies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable
      2. Participating Policies : (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable
    3. Variable insurance shall be further segregated into Life and Pension.
    4. Business within India and business outside India
  2. Net of provisions for diminution in value of investments

ICICI Prudential Life Insurance Company Limited

Statement of Standalone Audited Results for the quarter ended June 30, 2021

Three months ended/at

Year ended/at

Sr

Particulars

June 30, 2021

March 31, 2021

June 30, 2020

March 31, 2021

No.

(Audited)

(Audited)

(Audited)

(Audited)

Analytical Ratios:1

(i)

Solvency Ratio:

193.7%

216.8%

205.1%

216.8%

(ii)

Expenses of management ratio

15.1%

11.7%

12.2%

11.7%

(iii)

Policyholder's liabilities to shareholders' fund

2507.7%

2228.0%

2075.7%

2228.0%

(iv)

Earnings per share (`):

(a) Basic EPS before and after extraordinary items (net

(1.29)

0.44

2.00

6.69

of tax expense) for the period (not annualized for three

months)

(b) Diluted EPS before and after extraordinary items

(1.29)

0.44

2.00

6.67

(net of tax expense) for the period (not annualized for

three months)

(v)

NPA ratios: (for policyholders' fund)

(a) Gross & Net NPAs

NIL

NIL

NIL

NIL

(b) % of Gross & Net NPAs

NIL

NIL

NIL

NIL

(vi)

Yield on Investments (On Policyholders' fund)

A. Without unrealised gains

- Non Linked

Par

12.1%

18.8%

5.9%

10.8%

Non Par

8.4%

11.3%

8.6%

9.8%

- Linked

Non Par

12.5%

11.5%

(5.7%)

6.9%

B. With unrealised gains

- Non Linked

Par

6.9%

2.8%

29.6%

17.8%

Non Par

0.1%

0.3%

26.3%

13.1%

- Linked

Non Par

22.6%

14.9%

57.8%

40.9%

(vii)

NPA ratios: (for shareholders' fund)

(a) Gross & Net NPAs

NIL

NIL

NIL

NIL

(b) % of Gross & Net NPAs

NIL

NIL

NIL

NIL

(viii)

Yield on Investments (on Shareholders' A/c)

A. Without unrealised gains

18.8%

11.2%

5.2%

8.8%

B. With unrealised gains

4.2%

9.1%

26.8%

19.0%

(ix)

Persistency Ratio2

by premium

13th month

86.6%

85.6%

82.9%

87.1%

25th month

77.6%

74.8%

73.5%

76.1%

37th month

70.0%

68.3%

65.3%

69.2%

49th month

65.9%

63.8%

63.7%

65.4%

61st month

59.9%

58.6%

61.4%

59.8%

by count

13th month

78.2%

79.1%

77.1%

80.9%

25th month

72.5%

71.9%

69.5%

72.6%

37th month

65.4%

64.3%

61.7%

64.5%

49th month

60.9%

59.7%

59.7%

61.8%

61st month

56.7%

55.4%

58.2%

56.4%

(x)

Conservation Ratio

Par Life

90.4%

83.9%

85.0%

85.8%

Par Pension

97.2%

113.2%

84.0%

NA

Non Par Life

95.5%

89.8%

68.2%

79.6%

Non Par Pension

NA

NA

NA

NA

Non Par Variable

NA

NA

NA

NA

Non Par Variable Pension

NA

NA

NA

NA

Annuity Non Par

NA

NA

NA

NA

Health

84.2%

80.6%

80.4%

81.6%

Linked Life

84.7%

83.6%

78.3%

80.0%

Linked Pension

82.5%

84.0%

67.6%

73.3%

Linked Health

93.1%

92.8%

94.8%

93.4%

Linked Group Life

184.1%

375.0%

32.1%

119.7%

Linked Group Pension

93.4%

128.7%

54.0%

94.0%

Notes:

  1. Analytical ratios have been calculated as per the definition given in IRDAI Analytical ratios disclosure.
  2. Calculations are in accordance with the IRDAI circular IRDA/ACT/CIR/MISC/035/01/2014 dated January 23, 2014.
    1. Persistency ratios for the quarter ended June 30, 2021 have been calculated on June 30, 2021 for the policies issued in March to May period of the relevant years. For example, the 13th month persistency for quarter ended June 30, 2021 is calculated for policies issued from March 1, 2020 to May 31 2020.
    2. Persistency ratios for the quarter ended March 31, 2021 have been calculated on April 30, 2021 for the policies issued in Jan to March period of the relevant years. For example, the 13th month persistency for quarter ended March 31, 2021 is calculated for policies issued from January 1, 2020 to March 31, 2020.
    3. Persistency ratios for the quarter ended June 30, 2020 have been calculated on July 31, 2020 for the policies issued in Apr to Jun period of the relevant years. For example, the 13th month persistency for quarter ended June 30, 2020 is calculated for policies issued from April 1, 2019 to June 30, 2019.
    4. Persistency ratios for year ended March 31, 2021 have been calculated on April 30, 2021 for the policies issued in April to March period of the relevant years. For example, the 13th month persistency for year ended March 31, 2021 is calculated for policies issued from April 1, 2019 to March 31, 2020.
    5. Group policies and policies under micro insurance products are excluded.

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ICICI Bank Ltd. published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2021 12:27:06 UTC.