New Delhi, Oct. 14 -- ICICI Prudential Life Insurance has posted strong September-quarter (Q2FY27) results. Annualized premium equivalent (APE) grew 15.6% year-on-year to Rs.2,799 crore, while value of new business (VNB) rose 20.3% to Rs.712 crore. The faster growth in VNB expanded the margin by 98 basis points to 25.4%, largely aided by a better mix of protection (term) insurance products.

The year-on-year comparison also benefits from negative APE growth in Q2FY26. The second half of FY26 had a higher base, owing to a post-GST-exemption led spurt in business, which could weigh on H2FY27 and, consequently, overall growth for FY27.

In the absence of management guidance for FY27, investors must assess whether APE growth momentum can sust...