HDFC Life Insurance vs ICICI Life Insurance: share price, P/E, ROE and financials compared
HDFC Life Insurance Company
ICICI Life Insurance
HDFC Life Insurance and ICICI Life Insurance at a glance
HDFC Life Insurance and ICICI Life Insurance are both listed in Financial Services. HDFC Life Insurance is the larger by market cap, at ₹1.2L Cr against ₹63,695 Cr for ICICI Life Insurance (1.9 times as large). On valuation, ICICI Life Insurance has the lower P/E (36.2× against 59.7×) and the lower price-to-book (4.35× against 6.47×). On returns and margins, ICICI Life Insurance has the higher ROE (12.9% against 11.3%). Over three years, ICICI Life Insurance has faster 3-year profit growth (+25.5% against +11.8% a year). Both are lenders or insurers, so ROCE, operating margin and debt-to-equity aren’t compared: those ratios don’t fit financial balance sheets.
Key metrics, side by side
| Metric | HDFC Life InsuranceHDFCLIFE | ICICI Life InsuranceICICILIFE |
|---|---|---|
| Price (₹) | 565.30 | 438.90 |
| Market cap (₹ Cr) | 1,22,786 | 63,695 |
| P/E | 59.7× | 36.2× (the lower figure, shaded) |
| P/B | 6.47× | 4.35× (the lower figure, shaded) |
| Dividend yield, trailing | 0.37% | 0.38% |
| ROE | 11.3% | 12.9% (the higher figure, shaded) |
| ROCE | n/m | n/m |
| Operating margin (OPM) | n/m | n/m |
| Net margin (NPM) | 1.9% | 2.7% (the higher figure, shaded) |
| Sales CAGR 3Y | n/m | n/m |
| Profit CAGR 3Y | +11.8% | +25.5% (the higher figure, shaded) |
| Debt to equity | n/m | n/m |
| Interest cover | n/m | n/m |
| Net profit TTM (₹ Cr) | 2,048 | 1,771 |
| 1Y return | −26.8% (the higher figure, shaded) | −29.6% |
| Promoter holding | – | 74.70% |
HDFC Life Insurance vs ICICI Life Insurance: common questions
Which is bigger, HDFC Life Insurance or ICICI Life Insurance?
By market cap, HDFC Life Insurance is bigger at ₹1.2L Cr, against ₹63,695 Cr for ICICI Life Insurance (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹2,048 Cr for HDFC Life Insurance and ₹1,771 Cr for ICICI Life Insurance.
Which has a lower P/E ratio, HDFC Life Insurance or ICICI Life Insurance?
HDFC Life Insurance trades at a P/E of 59.7× and ICICI Life Insurance at 36.2×. ICICI Life Insurance has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, HDFC Life Insurance or ICICI Life Insurance?
HDFC Life Insurance reports a return on equity of 11.3% and ICICI Life Insurance 12.9%. ICICI Life Insurance has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HDFC Life Insurance or ICICI Life Insurance?
Over the last three years: profit grew +11.8% a year at HDFC Life Insurance and +25.5% at ICICI Life Insurance, so ICICI Life Insurance grew profit faster. Past growth doesn’t predict future growth.