As at December-end 2026, ICICI Bank and Prudential Corporation Holdings had 50.95% and 21.93% stake, respectively, in ICICI Pru Life. | Photo Credit: FRANCIS MASCARENHAS

ICICI Bank’s Board of Directors has approved purchase of up to 2 per cent additional shareholding in its subsidiary, ICICI Prudential Life Insurance Company Ltd.

This purchase will primarily be towards maintaining the bank’s majority shareholding in the event of exercise of stock-based compensation of ICICI Pru Life, India’s second largest private sector bank said in a regulatory filing.

As at December-end 2026, ICICI Bank and Prudential Corporation Holdings, which is a part of a leading international financial services group – the Prudential Plc Group (headquartered in London and Hong Kong), had 50.95 per cent and 21.93 per cent stake, respectively, in ICICI Pru Life.

The life insurer’s net profit grew by 19.6 per cent year-on-year to ₹390 crore in Q3 FY2026 and 23.5 per cent year-on-year to ₹992 crore in nine months of this fiscal, primarily driven by higher investment income from shareholders’ funds, per its regulatory filing.

Further, ICICI Pru Life’s solvency ratio stood at 214.8 per cent at December 31, 2025. Its assets under management grew by 6.5 per cent year-on-year to ₹3,31,000 crore as on December 31, 2025.

Published on February 28, 2026