ICICI Prudential Life Insurance Company Limited is now officially known as ICICI Life Insurance Limited with effect from 22 September 2026. The Registrar of Companies (RoC), Central Processing Centre under the Ministry of Corporate Affairs issued a fresh Certificate of Incorporation on that date to give legal effect to the change. The rename reflects the changing ownership of the insurer as its British partner Prudential plc prepares to step back to an investor role.
What Is ICICI Prudential Life Insurance?
ICICI Prudential Life Insurance was a joint venture life insurer promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited, a unit of British insurer Prudential plc. It started operations in fiscal year 2001 and is headquartered in Mumbai, Maharashtra. The company offers term plans, savings plans, unit linked plans, pension plans and group insurance.
The company was incorporated in the year 2000 with registration number 105 from the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI is the statutory regulator for insurance in India, created under the IRDA Act, 1999 and headquartered in Hyderabad. Every life insurer in India must hold a valid Certificate of Registration from IRDAI to sell policies.
ICICI Prudential Life made history in September 2016 by becoming the first insurance company in India to list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). In its initial public offer, parent ICICI Bank sold a 12.65 percent stake worth about ₹5,000 crore. The company trades under the symbol ICICIPRULI on NSE. In fiscal year 2026, the company completed 25 years of operations and served more than 10 crore customers through 470 offices across India.
Why Did ICICI Prudential Change Its Name to ICICI Life?
The name change is directly linked to Prudential plc and its plan to take majority control of a different Indian life insurer. On 17 May 2026, Prudential plc announced an agreement to buy a 75 percent stake in Bharti Life Insurance Company Limited from Bharti Life Ventures and funds managed by 360 ONE Asset Management. The initial price for the deal was ₹3,500 crore, with an additional ₹700 crore linked to future conditions.
Indian insurance rules do not allow the same group to be the promoter of two life insurance companies at the same time. A promoter is the main owner who controls the company and guides its management. An investor only holds shares without control rights. To proceed with the Bharti Life deal, Prudential must reduce its shareholding in ICICI Prudential Life to less than 10 percent and move from promoter to investor status.
As on 30 June 2026, Prudential Corporation Holdings held 21.89 percent of ICICI Prudential Life while ICICI Bank held 50.84 percent. On 6 July 2026, the board of ICICI Prudential Life approved Prudential’s request for reclassification from promoter to investor. On the same day, the board also approved the proposal to rename the company to ICICI Life Insurance Limited to reflect the post change ownership. The Competition Commission of India (CCI), which checks large mergers for fair competition, cleared the Bharti Life acquisition on 18 August 2026.
How Was the Name Change Legally Completed?
A listed insurance company in India must complete four clear steps to change its name. It needs approval from the insurance regulator, approval from shareholders, approval from the company registrar, and fresh registration from the insurance regulator. ICICI Prudential Life followed this exact sequence between July and September 2026.
First, the company received a No Objection Certificate from IRDAI on 7 August 2026 for the proposed name ICICI Life Insurance Limited. IRDAI rules require that any new insurer name containing the word insurance must get prior clearance from the regulator. This certificate only permits the use of the new name and does not by itself complete the change.
Second, the shareholders of ICICI Prudential Life approved the change through a postal ballot with remote electronic voting from 21 August to 19 September 2026. The special resolution was passed with 99.99 percent votes in favour out of more than 132.32 crore votes polled. Promoter and institutional shareholders voted fully in favour.
Third, the Registrar of Companies, Central Processing Centre under the Ministry of Corporate Affairs approved the change and issued a fresh Certificate of Incorporation at 15:19 IST on 22 September 2026. Under Section 13 of the Companies Act, 2013, a company name change becomes legally effective only on the issue of this certificate. On the same day, the name clause of the Memorandum of Association and the Articles of Association of the company stood changed to the new name.
| Date | Approval or Step | Authority or Body |
|---|---|---|
| 6 July 2026 | Board approves rename proposal and promoter reclassification request | Board of ICICI Prudential Life |
| 7 August 2026 | No Objection Certificate for new name | IRDAI |
| 19 September 2026 | Shareholders approve special resolution for rename | Members through postal ballot |
| 22 September 2026 | Fresh Certificate of Incorporation, new name takes legal effect | Registrar of Companies, Ministry of Corporate Affairs |
The company has stated that it will now seek a revised Certificate of Registration from IRDAI in the new name and complete formalities with stock exchanges, depositories, the Registrar and Share Transfer Agent and other regulators.
What Does the New Name Mean for Policyholders and Investors?
For existing policyholders, the rename changes nothing in the policy contract. All life insurance policies, premium amounts, bonus terms, maturity dates and claim rights continue exactly as before. Customers can continue to pay premiums, check policy status, download policy documents and contact customer care through the existing website and mobile platforms, which will gradually shift to the new brand. The company has clarified that business continues as usual and the change does not alter its capital strength or financial obligations.
Investors should note that this is only a change of name and not a change in business, management control or share capital. The listing on NSE and BSE continues, and the company will apply to the exchanges for updating the company name in their records. ICICI Bank remains the largest shareholder with majority control, and Anup Bagchi continues as Managing Director and Chief Executive Officer (as of September 2026). Sandeep Batra, an Executive Director of ICICI Bank, is the Chairman of the insurer (as of September 2026).
The distinction from group companies remains important for readers. ICICI Lombard General Insurance Company is a separate general insurer for motor, health and crop cover. ICICI Prudential Asset Management Company is a separate mutual fund business in which ICICI Bank holds 51 percent and Prudential plc holds 49 percent. The present rename applies only to the life insurance company and not to the mutual fund joint venture.
Company Profile and Financial Strength at a Glance
ICICI Life Insurance Limited closed fiscal year 2026 with assets under management of ₹3.13 trillion. Assets under management means the total market value of all investments the company manages for policyholders and shareholders. This made the company one of the largest private life insurers in India on a retail premium basis. The total in force sum assured, which is the total life cover promised to all policyholders, stood at ₹46.11 trillion at the end of March 2026.
Service quality is measured through the claim settlement ratio. This ratio shows the share of death claims paid out of total claims received in a year. The company reported an individual claim settlement ratio of 99.3 percent in fiscal year 2026 with an average settlement time of 1.1 days for cases that did not need investigation. The solvency ratio, which measures whether an insurer has enough capital to meet future claims, stood at 227.3 percent against the regulatory minimum of 150 percent fixed by IRDAI.
| Indicator for FY2026 | Value |
|---|---|
| Assets under management | ₹3.13 trillion |
| Individual claim settlement ratio | 99.3 percent |
| Solvency ratio | 227.3 percent |
| Value of new business | ₹26.29 billion |
| Total in force sum assured | ₹46.11 trillion |
| Employees and advisors | 19,303 employees and 2,42,074 advisors |
The registered office of the company is at ICICI PruLife Towers, Prabhadevi, Mumbai. Its corporate identity number begins with L66010MH2000, which shows it is a listed public company incorporated in Maharashtra in the year 2000 for life insurance business.
Key Takeaways
- ICICI Life Insurance Limited became the new legal name of ICICI Prudential Life Insurance Company Limited on 22 September 2026.
- The Registrar of Companies, Central Processing Centre under the Ministry of Corporate Affairs issued the fresh Certificate of Incorporation for the rename.
- IRDAI gave its No Objection Certificate for the new name on 7 August 2026, and shareholders approved it on 19 September 2026.
- The rename follows Prudential plc and its plan to buy a 75 percent stake in Bharti Life Insurance for ₹3,500 crore.
- The company reported assets under management of ₹3.13 trillion and an individual claim settlement ratio of 99.3 percent in FY2026.
