1 week ago
ICICI Prudential Reports 60.7% Telangana Term-Plan Growth in Q1-FY2027
ICICI Prudential Life said its term-insurance business grew by 60.7% in Telangana compared with the same period last year.
Term insurance helps protect a family financially if the insured person dies.
The company said it covered more than 6.5 lakh people in the state.
It also managed Rs.
11,708 crore for customers there.
Customers showed demand for savings and retirement products as well.
The company paid Rs.
4,060 crore in total benefits to Telangana customers over seven years.
This included Rs.
1,192 crore in death claims.
ICICI Prudential plans to open more branches and hire more advisors.
It also plans to use digital tools and customer outreach to make insurance easier to access.
ICICI Prudential Life reported 60.7% year-on-year growth in its term-plan business in Telangana during Q1-FY2027.
The insurer covered 6,56,032 lives and managed assets worth Rs. 11,708 crore in Telangana as of March 31, 2026.
The company’s sum assured in the state was Rs. 1,52,016 crore, while total benefits paid over seven years reached Rs. 4,060 crore.
ICICI Prudential had 11 branches, 6,172 advisors, 3,934 partner branches and 3,372 specified persons in Telangana.
The company plans to expand through additional branches, advisor hiring and targeted customer outreach.
- Who
- ICICI Prudential Life Insurance Company Limited, along with its customers, advisors and distribution partners in Telangana.
- What
- The company reported 60.7% year-on-year growth in its Telangana term-plan business during Q1-FY2027 and announced plans to expand its operations.
- Where
- Telangana, with the announcement issued from Hyderabad.
- When
- The growth relates to Q1-FY2027; most Telangana figures were reported as of March 31, 2026.
- Why
- The company said it is responding to demand for financial protection, long-term savings and retirement planning while seeking to improve insurance access.
Key facts
- Term-plan growth
- 60.7% year-on-year in Telangana during Q1-FY2027
- Lives covered
- 6,56,032 as of March 31, 2026
- Assets under management
- Rs. 11,708 crore in Telangana as of March 31, 2026
- Sum assured
- Rs. 1,52,016 crore in Telangana as of March 31, 2026
- Benefits paid
- Rs. 4,060 crore to Telangana customers over the past seven years
- Death claims
- Rs. 1,192 crore paid in Telangana over the past seven years
- State network
- 11 branches, 6,172 advisors, 3,934 partner branches and 3,372 specified persons
- Company-level claim settlement ratio
- 99.3% in Q1-FY2027
Quotes
Mr. Amish Banker, Chief Distribution Officer, ICICI Prudential Life Insurance Company Limited
Chief Distribution Officer of ICICI Prudential Life Insurance
“Telangana continues to be a strategically important market for our Company and we are witnessing strong momentum across both urban and emerging centres in the State. Over the past few quarters, we have seen a clear shift in customer behaviour, with individuals increasingly prioritising financial protection, long‑term savings and retirement planning as part of their overall financial goals. Our continued investments in distribution, digital capabilities, diversified products and customer engagem…”
deccanchronicle.com
Sources
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