ICICI Prudential Life Insurance And SK Finance Announce Strategic Partnership To Offer Credit Life Solutions

· Over 9.3 lakh customers of SK Finance will have easy access to credit life solutions to provide financial security to their families

· Strong rural and semi-urban presence of SK Finance will further bolster the distribution network of ICICI Prudential Life Insurance

SK Finance Limited, one of India’s leading Non-Banking Financial Companies (NBFCs), today announced a strategic partnership with ICICI Prudential Life Insurance Company Limited. This collaboration will offer group credit protection insurance solutions to customers of SK Finance, enabling them with the necessary financial protection.

SK Finance with its strong presence across rural and semi-urban geographies, will offer customer centric credit life insurance solutions to over 9.3 lakh customers and enable them to provide financial security to their families.

This alliance will encourage responsible borrowing and provide better financial protection, especially in underserved communities by offering simple and seamless loan insurance. Credit life products equip customers to better manage risk and ensure the family’s financial plan is not disrupted.

Commenting on the collaboration, Mr. Upendra Prabhu, Chief of Distribution - Credit Life & Protection, ICICI Prudential Life Insurance Company Limited said, “We are happy to partner with SK Finance, a leading NBFC in the country. Distribution is key to enhancing penetration and achieving the ‘Insurance for All’ objective. This collaboration aligns with our Company’s focus on improving accessibility to life insurance while supporting customers’ long-term financial protection needs.

Both organisations have been built on the ethos of customer centricity and aim to deliver greater value to customers. Importantly, a credit life product ensures that, in case of an eventuality, customers leave behind an asset for their families and not a liability in the form of an outstanding loan.”

On the strategic partnership, Mr. Yash Setia, Whole Time Director, SK Finance Limited, commented, “Our mission extends beyond providing credit. We aim to make our customers financially resilient and protect their families from financial disruption as well as loan liabilities. A significant milestone in that direction, this partnership with ICICI Prudential Life Insurance aligns with our broader vision under our insurance vertical, SK Bima, to deliver integrated credit and risk protection solutions for Naya Bharat.”

The collaboration reflects the shared commitment of both organisations to simplify life insurance and promote long-term financial wellbeing for its customers.

About SK Finance Limited (www.skfin.in)

SK Finance Limited is a 31-year-trusted NBFC, with a diversified portfolio of asset-backed and secured lending products, including Commercial Vehicle Loan, Car Loan, Tractor Loan and Secured Business Loan, among others. Maintaining a strong presence across rural and semi-urban geographies, the NBFC is serving over 9.3 lakh customers through 700+ branches across 12 states and 2 union territories.

About ICICI Prudential Life Insurance Company Limited (www.iciciprulife.com)

ICICI Prudential Life Insurance Company Limited is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. The Company began its operations in fiscal year 2001 and has consistently been amongst the top private sector life insurance companies in India on Retail Weighted Received Premium (RWRP) basis. The Company offers an array of products in the Protection and Savings category which match the different life stage requirements of customers, enabling them to provide a financial safety net to their families as well as achieve their long-term financial goals. The digital platform of the Company provides a paperless buying experience to customers, empowers them to conduct an assortment of self-service transactions, provides a convenient route to make digital payments and facilitates a hassle-free claims settlement process.

The Company has introduced ICICI Pru Stack, a first-of-its kind suite of platform capabilities that combines digital tools and analytics. This innovative suite aims to enhance the understanding of customers' requirements and enable distributors to offer suitable insurance products, deliver seamless experiences, and provide exceptional pre- and post-sale services. By deploying this comprehensive solution, the Company aspires to transform into the most customer-friendly and partnerable insurance provider in the country.

At December 31, 2025, the Company had an AUM of Rs. 3.31 lakh crore and a total in-force sum assured of Rs. 43.44 lakh crore. ICICI Prudential Life is also the first insurance company in India to be listed on both the National Stock Exchange (NSE) Limited and Bombay Stock Exchange (BSE) Limited.