ICICI Prudential Life Insurance Records 60.7% YoY Growth in Telangana Term Plan Business for Q1-FY2027

ICICI Prudential Life Insurance has announced a strong 60.7% year-on-year growth in its term plan (retail protection) business in Telangana for the first quarter of fiscal year 2027. Alongside this surge in retail protection, the company has observed robust demand across its savings portfolio—including linked, non-linked, and annuity offerings—within the State.

As of March 31, 2026, the insurer’s cumulative assets under management in Telangana reached Rs. 11,708 crore, with total life cover provided through a sum assured of Rs. 1,52,016 crore. Over the past seven years, the company has disbursed Rs. 4,060 crore in customer benefits across the region. To better serve this expanding market, the company maintains a robust local footprint comprising 11 branches, 6,172 advisors, 3,934 partner branches, and 3,372 specified persons.

Highlighting the strategic importance of the region, Chief Distribution Officer Amish Banker noted that customer behavior is shifting toward long-term savings, retirement planning, and financial security. Nationally, the insurer continues to drive efficiency through artificial intelligence, data analytics, and digitalization, achieving a 99.3% claim settlement ratio in Q1-FY2027 alongside same-day policy issuance and digital KYC adoption. Meanwhile, the Board of Directors has approved changing the company’s name to ‘ICICI Life Insurance Limited’, pending final regulatory clearances.