The net income from premiums stood at Rs 11,809.26 crore in Q3FY26, versus Rs 12,261.37 crore posted in the same quarter of the previous financial year.
The company reported a Value of New Business (VNB) of Rs 615 crore. For the nine months ended December 31, 2025, (9M-FY2026), VNB stood at Rs 1,664 crore, reflecting a margin of 24.4%.
Meanwhile, on a 9-month basis, PAT grew by 23.5% year-on-year to Rs 992 crore from Rs 803 crore in the corresponding period last year, driven primarily by higher investment income from shareholders’ funds.
Talking about the asset quality, the company’s assets under management (AUM) grew by 6.5% year-on-year, rising from Rs 3,10,414 crore as of December 31, 2024, to Rs 3,30,729 crore as of December 31, 2025.
The debt-equity mix stood at 55:45 as of December 31, 2025, and 95.8% of the fixed income investments were held in sovereign or AAA-rated instruments.
Notably, the company has reported zero Non-Performing Assets (NPAs) since inception, underscoring the high quality of its asset book.The company’s retail APE (Annualised Premium Equivalent) rose 9.9% year-on-year to Rs 2,116 crore in Q3-FY2026, up from Rs 1,926 crore in Q3-FY2025, building on a 20.8% growth seen in the same quarter last year. During this period, the retail number of policies increased by 11.7% year-on-year.
Retail protection APE registered a robust 40.8% year-on-year growth, rising from Rs 147 crore in Q3-FY2025 to Rs 207 crore in Q3-FY2026. This growth was partly driven by the implementation of recent GST reforms. As a result, the retail sum-assured also recorded a sharp rise of 51.6% year-on-year. As of December 31, 2025, the total in-force sum assured — representing the total quantum of life cover availed by the company’s customers — stood at Rs 43,44,000 crore.
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Total APE for the company increased 3.6% year-on-year to Rs 2,525 crore in Q3-FY2026. For the nine months of FY2026, both overall and retail APE were in line with the previous year.
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