01-Oct-2026      16:36

ICICI Prudential Life Insurance secures reaffirmations for debt instruments totaling Rs 2,600 crore and Rs 1400 crore

ICICI Prudential Life Insurance Company Ltd announced reaffirmations from ICRA Limited and ICRA regarding its outstanding debt instruments. ICRA reaffirmed the rating of [ICRA]AAA (Stable) on its subordinated debt programme of Rs 2,600.00, as well as reaffirmed ratings of ICRA AAA/Stable on Non-Convertible Securities totaling Rs 1400 Crores (ISIN INE726G08022) and Rs 1195 Crores (ISIN INE726G08030), all maturing on September 30, 2026; additionally, ICRA also reaffirmed ratings on Basel III Tier II bonds and noted factors including a strong promoter profile with ICICI Bank holding 50.8% as of June 30, 2026, subsequently increasing to 52.8% as of September 02, 2026, and a reported solvency of 2.25 times compared to the regulatory requirement of 1.50 times as of June 30, 2026, while also highlighting a potential impact of mortality rates on financial performance and reserves.

News source: Capital Market - Live News