During FY26, Pramerica Life recorded a 19 per cent year-on-year increase in Total New Business Premium, which stood at Rs 1,471 crore. Annualised Premium Equivalent registered a robust 29 per cent growth, supported by healthy momentum across multiple distribution channels. The company also reported a strong 30 per cent rise in Individual New Business Premium, growing 2.5 times faster than the overall private life insurance industry.
The insurer maintained one of the strongest growth trajectories among private life insurers, posting a three-year compound annual growth rate of 28 per cent in Total New Business Premium. Embedded Value increased by 15 per cent year-on-year, reflecting continued business expansion and value creation.
Pramerica Life’s claims settlement performance remained a key highlight, with the Claims Paid Ratio improving to 99.29 per cent from 99.18 per cent in the previous financial year. This marks the third consecutive year of improvement, underscoring the company’s emphasis on customer trust and service reliability.
The company also reported strong growth in Retail New Business Premium, driven by the continued expansion of its retail network into customer segments where demand for financial protection remains significant. Notably, this growth was achieved with an average ticket size approximately 42 per cent lower than the industry median, demonstrating the insurer’s strategy of serving customers across varied income groups rather than focusing solely on higher-income segments.
Pramerica Life continued to strengthen its protection footprint during FY26, extending coverage to more than 8.7 crore lives since inception, including over 3.5 lakh defence personnel. The company was the first life insurer in India to introduce specialised protection products tailored to the service conditions and requirements of armed forces and paramilitary personnel, establishing a long-standing association with these communities.
Beyond insurance coverage, the company has continued to support veterans through employment opportunities. Since inception, more than 8,500 veterans have been employed by Pramerica Life, with former servicemen currently accounting for nearly 17 per cent of its workforce.
Commenting on the company’s performance, Pankaj Gupta, Managing Director and Chief Executive Officer of Pramerica Life Insurance, said the company remains focused on building a business anchored in steady progression. He stated that the third consecutive year of double-digit growth was driven by a balanced distribution strategy, customer-centric operations, relevant product offerings, and a strong risk management framework.
He added that the company’s priority is to scale responsibly while maintaining reliability and a strong claims experience for customers. Looking ahead, Pramerica Life intends to expand insurance accessibility through broader market presence and solutions aligned with the evolving needs of modern India while creating long-term economic and social value through financial inclusion.
The company’s FY26 growth was supported by a diversified distribution strategy, with significant contributions from both established and newly developed channels. These channels cater to customers across regions, professions, income groups, and life stages, enabling broader insurance penetration throughout the country.
Pramerica Life’s customer-focused approach has also influenced its product development strategy. In the non-participating segment, the company offers products designed to provide certainty in uncertain market conditions, attracting customers seeking dependable long-term financial protection. In the market-linked segment, the company continued to focus on innovation through offerings such as Smart Invest 1Up, described as an industry-first Unit Linked Insurance Plan proposition designed to meet the evolving needs of Indian consumers.
Recognising growing investor interest in India’s long-term growth potential, particularly in the mid-cap segment, the company introduced the Nifty Midcap 50 Correlation Fund and the Rising Bharat Fund during the last financial year. According to the company, both funds have delivered strong performance relative to broader market benchmarks, reinforcing its focus on identifying emerging investment opportunities and translating them into relevant customer solutions.
Alongside business growth, Pramerica Life expanded its brand visibility through targeted marketing initiatives. Its flagship campaign, “This Is My Climb,” focused on the aspirations and resilience of everyday Indians and was prominently featured in national and regional newspapers, helping the brand reach a wider and more diverse audience.
The company’s internal culture also received recognition during the year. Pramerica Life was certified as a Great Place to Work for the fourth consecutive year and was recognised among the Top 25 Best Workplaces in the Banking, Financial Services and Insurance sector. The company was also acknowledged among India’s Best Workplaces for Women and featured in India’s first Diversity, Equity and Inclusion 100 Index compiled by Team Marksmen and Ernst & Young.
Pramerica Life Insurance is a joint venture between DIL, a wholly owned subsidiary of Piramal Finance Limited, formerly known as Piramal Capital and Housing Finance Limited, and Prudential International Insurance Holdings, Ltd., a wholly owned subsidiary of Prudential Financial, Inc. The company commenced operations in India on September 1, 2008, and has established a nationwide presence through multiple distribution channels designed to address the insurance needs of diverse customer segments.
Piramal Finance Limited is a retail-focused upper-layer Non-Banking Financial Company with operations across 26 states and a customer base exceeding five million. The company manages assets under management exceeding Rs 1,00,000 crore and operates through a technology-driven model combining extensive physical outreach with advanced digital capabilities, including machine learning models, artificial intelligence tools, and real-time analytics.
Prudential Financial, Inc., a global financial services leader and investment manager, oversees approximately USD 1.4 trillion in assets under management and operates across the United States, Asia, Europe, and Latin America. The company continues to focus on expanding access to investment, insurance, and retirement solutions worldwide.
With three successive years of double-digit growth, expanding customer reach, industry-leading claims performance, innovative product offerings, and a sustained commitment to financial inclusion, Pramerica Life Insurance has reinforced its position as a significant player in India’s life insurance sector while laying the foundation for continued long-term growth and broader access to financial protection.
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