ICICI Prudential Life Insurance Company Ltd - 'Crisil AAA/Stable' assigned to Subordinated Debt

Crisil Ratings has assigned its 'Crisil AAA/Stable' rating to the Rs 1200 crore subordinated debt of ICICI Prudential Life Insurance Company Limited (ICICI Pru). The rating on existing subordinated debt has been reaffirmed at 'Crisil AAA/Stable'.

Also, Crisil Ratings has withdrawn its rating on Subordinated Debt amounting to Rs 1200 crore on the early redemption by exercising the call option available, and receipt of requisite documentation. The rating is withdrawn in line with Crisil Ratings policy on withdrawal of ratings.

The rating continues to factor in the strategic importance and support available from its parent, ICICI Bank Ltd (ICICI Bank rated; 'Crisil AAA/Crisil AA+/Stable), both on an ongoing basis and in the event of distress; the established market position of ICICI Pru Life, well-diversified distribution channels, adequate capital position and healthy persistency metrics and profitability. These strengths are partially offset by ability to sustain growth in various segments and challenges in sustaining profitability due to rising competition.

ICICI Pru Life is managed independently and is a self-sustaining entity; it continues to benefit from strong linkages with ICICI Bank (held 50.98% stake as on September 30, 2025) and their shared brand name. ICICI Bank's presence in the life insurance sector is through ICICI Pru Life, which is, therefore, one of the critical entities for the bank. The strong linkage implies the support (both financial and board oversight) provided by ICICI Bank to ICICI Pru Life. With ICICI Bank being an exclusive corporate with ICICI Pru Life for selling life insurance products, the bank sells life insurance through its branches and provides services to the life insurance policyholders. The foreign promoter, Prudential Corporation Holdings Ltd, held 21.95% stake as on September 30, 2025.

Shares of ICICI Prudential Life Insurance Company Limited was last trading in BSE at Rs. 610.30 as compared to the previous close of Rs. 618.55. The total number of shares traded during the day was 10406 in over 975 trades.

The stock hit an intraday high of Rs. 618.75 and intraday low of 609.70. The net turnover during the day was Rs. 6381010.00.

Source : Equity Bulls

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ICICIPrudentialLifeInsuranceCompany INE726G01019 RatingUpdate CRISIL