Pramerica Life Insurance announced financial results for the year ended March 31, 2026, marking its third year of double-digit growth. The milestone reflects not only the consistency of the company’s financial trajectory but the depth of its reach - across geographies, communities, and customer segments that require a more deliberate and sustained commitment to serve well.

 

Pramerica Life delivers third straight year of double-digit growth; Expands insurance reach across India

 

Last financial year, the company reported 19% year-on-year growth in New Business Premium (NBP), while Annualised Premium Equivalent (APE) grew 29% year-on-year, driven by healthy momentum across distribution channels. A Claims Paid Ratio of 99.29%, rising for three successive years, indicates towards the sound quality of the business.

 

The company also delivered strong growth in Retail New Business Premium, reflecting the continued expansion of its retail network into customer segments where the need for financial protection is high but availability has not always kept pace with that need. Notably, this growth was achieved with an average ticket size approximately 42% lower than the industry median - a measure of how deliberately the company has built its distribution to serve customers at varied income levels, not just at the higher end of the market.

 

Performance Snapshot for FY26:

  • Total New Business Premium of Rs 1,471 crore, registering a 19% Y-o-Y growth

  • Individual New Business Premium grew 30% year-on-year, 2.5x faster than the overall private industry

  • A strong 3-year CAGR of 28% in Total New Business Premium, reflecting one of the most consistent growth trajectories among private life insurers in India

  • Embedded Value grew 15% year-on-year

  • 99.29% claims paid ratio, up from 99.18% last year

 

The company also continued to deepen its protection footprint, covering over 8.7 Cr+ lives including over 3.5 lakh defence personnel since inception. In line with its long-standing focus on developing solutions for insurance buyers with distinct protection needs, Pramerica Life was the first life insurer to develop specialised protection offerings designed around the service conditions and requirements of armed forces and paramilitary personnel, forging a deep and enduring association with these communities.

 

Over the years, this relationship has evolved beyond customer outreach into a wider people philosophy, with the company continuing to create meaningful second-career opportunities for veterans and ex-servicemen. Since inception, over 8,500 veterans have been employed by the company, with ex-servicemen today constituting nearly 17% of its employee base.

 

Pankaj Gupta, MD & CEO, Pramerica Life Insurance, said, "We are focused on building a business anchored in steady progression - and our third consecutive year of double-digit growth is a reflection of that intent. This record has been driven by a well-balanced mix of distribution channels, a sharp focus on the customer, a product approach built around genuine relevance and a strong risk management framework.

 

As we grow, our priority is to scale responsibly while staying grounded in what matters most to our customers: reliability and a strong claims experience. Looking ahead, we remain committed to expanding access to life insurance through wider market presence and delivering solutions that align with the evolving needs of new-age India, all while building a business that creates lasting value not just economically, but also through broader financial inclusion and community impact."

 

The growth momentum in FY26 was bolstered by a diversified strategy, with strong contributions across both proprietary and newly seeded channels. These channels serve a wide spectrum of customers across geographies, income profiles, professions and life stages, enabling more inclusive insurance penetration across the country.

 

This commitment to serving a diverse set of customers has also shaped the way Pramerica Life thinks about its products, making accessibility and relevance in product design an extension of its customer-first philosophy. On the non-participating side, the company offers some of the most competitive propositions in the industry - products designed to deliver certainty in an uncertain market environment, which have found strong resonance with customers seeking reliable, long-term financial protection. In the market-linked segment, the company has been at the forefront of product innovation, with offerings such as Smart Invest 1Up - an industry-first ULIP proposition - reflecting Pramerica Life's commitment to designing products that are differentiated in design and relevant to the evolving needs of today's India.

 

This thinking extends to the company's expanding fund portfolio as well. Recognising the growing investor appetite for India's long-term growth story, particularly in the midcap segment, Pramerica Life introduced the Nifty Midcap 50 Correlation Fund and the Rising Bharat Fund as part of its market-linked offerings last financial year. Both funds have delivered strong performance relative to broader market benchmarks, reinforcing the company's focus on identifying high-potential investment themes early and translating them into relevant customer propositions.

 

Grounded on these pillars, Pramerica Life Insurance has focussed on expanding its brand visibility through targeted, insight-driven marketing capabilities. At the forefront of this effort is This Is My Climb, a brand campaign that speaks to the aspirations and resilience of everyday Indians. The campaign's most recent chapter made its presence felt on the front pages of national and regional dailies, extending the brand's reach to a wide and diverse readership across the country.

 

This kind of engagement with customers does not emerge in isolation; it is the outward expression of an organisation that holds itself to the same standard of commitment internally. A culture of trust, inclusion and accountability - reflected in the company being Great Place To Work Certified for four successive years and recognised among the Top 25 Best Workplaces in the BFSI sector - forms the bedrock of how Pramerica Life grows from within. The company’s commitment to fostering a diverse and inclusive workforce is equally deliberate. Recognised among India’s Best Workplaces for Women and featured in India’s first DEI 100 Index by Team Marksmen and Ernst & Young, Pramerica Life believes that an organisation reflecting the diversity of the country it serves is best positioned to serve it meaningfully.

 

The steadiness of Pramerica Life’s growth story finds its roots in customer centricity being at the core of every decision. The company’s focus remains on shaping a business that combines scale with sustainability and growth with responsibility, while continuing to expand access to purposeful financial protection across India. Anchored in trust, inclusion, governance and long-term value creation, this is the foundation on which Pramerica Life is charting its next chapter.

 

About Pramerica Life Insurance Limited

Pramerica Life Insurance Limited is a joint venture between DIL, a wholly owned subsidiary of Piramal Finance Limited (erstwhile Piramal Capital and Housing Finance Limited) and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI). It represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. Pramerica Life Insurance Limited, started operations in India on September 1, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. Pramerica is the brand name used in India and select countries by PFI.

 

For more details, please visit www.pramericalife.in.

 

About Piramal Finance Limited

Piramal Finance Limited is a retail-led upper-layer NBFC with a pan-India presence, having served over 5 million customers across 26 states. The company manages Assets Under Management (AUM) of over Rs. 1,00,000 Cr and operates a distinctive phygital model—combining high-touch engagement across 13,000+ pin codes with high-tech capabilities including machine learning models, agentic AI tools and real-time dashboards. In retail lending, Piramal Finance offers home loans, loans against property, used car loans, personal loans, digital loans and small business loans, with a strong focus on metro-adjacent, semi-urban and rural markets. In wholesale lending, the company provides asset-backed, data-driven solutions across real estate and select non-real estate sectors, with a focus on mid-segment residential projects and capital solutions for mid-market corporates. With its digital-first approach and AI-enabled platforms, Piramal Finance is committed to expanding access to affordable credit and driving inclusive growth across India.

 

For more information visit: piramalfinance.com.

 

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately USD 1.4 trillion in assets under management as of December 31, 2022, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better by creating financial opportunities for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years.

 

For more information, please visit news.prudential.com