The board of ICICI Bank approves the purchase of up to 2% additional shares in ICICI Pru Life

At the end of December 2026, ICICI Bank and Prudential Corporation Holdings held 50.95% and 21.93% stake in ICICI Pru Life respectively. | Photo credit: FRANCIS MASCARENHAS

This purchase will primarily be aimed at retaining the bank’s majority stake in the event of exercise of equity-based compensation of ICICI Pru Life, India’s second largest private sector bank, a regulatory filing said.

At the end of December 2026, ICICI Bank and Prudential Corporation Holdings, part of a leading global financial services company – the Prudential Plc Group (headquartered in London and Hong Kong), held 50.95 percent and 21.93 percent stake in ICICI Pru Life, respectively.

The life insurer’s net profit grew 19.6 percent year-on-year to ₹390 crore in the third quarter of fiscal 2026 and 23.5 percent year-on-year to ₹992 crore in nine months of this fiscal, mainly due to higher investment income from shareholder funds, according to the regulatory filing.

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

Published on February 28, 2026