<?xml version="1.0" encoding="UTF-8"?>
<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">540133</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-13</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">ICICIPRULI</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">ICICI LIFE INSURANCE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">540133</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE726G01019</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Key licenses or regulatory approvals (Sub-para 12-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-10-13</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">18:45:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-13</in-capmkt:DateOfReport><in-capmkt:EventTypeOfKeyLicenseOrRegulatoryApproval contextRef="MainI">Regulatory approvals</in-capmkt:EventTypeOfKeyLicenseOrRegulatoryApproval><in-capmkt:StageOfDisclosureOfKeyLicenseOrRegulatoryApproval contextRef="MainI">Granting</in-capmkt:StageOfDisclosureOfKeyLicenseOrRegulatoryApproval><in-capmkt:NameOfRegulatoryOrLicensingAuthority contextRef="MainI">Insurance Regulatory and Development Authority of India</in-capmkt:NameOfRegulatoryOrLicensingAuthority><in-capmkt:BriefDetailsOfApprovalOrLicenseObtainedOrWithdrawnOrSurrendered contextRef="MainI">The Company has received approval of the Authority for   appointment of Mr. Sidharatha Mishra (DIN: 06524169) as an Additional Director and further as the Managing Director &amp; CEO of the Company for a period of five consecutive years from October 14, 2026 to October 13, 2031, subject to compliance with applicable laws.

This appointment is subject to approval of the shareholders of the Company, as per extant regulations.</in-capmkt:BriefDetailsOfApprovalOrLicenseObtainedOrWithdrawnOrSurrendered><in-capmkt:ImpactOrRelevanceOfApprovalOrLicenseToListedEntity contextRef="MainI">The Company has received approval of the Authority for   appointment of Mr. Sidharatha Mishra (DIN: 06524169) as an Additional Director and further as the Managing Director &amp; CEO of the Company for a period of five consecutive years from October 14, 2026 to October 13, 2031, subject to compliance with applicable laws.

This appointment is subject to approval of the shareholders of the Company, as per extant regulations.</in-capmkt:ImpactOrRelevanceOfApprovalOrLicenseToListedEntity><in-capmkt:ReasonsForActionOfGrantingOrWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals contextRef="MainI">Appointment of Mr. Sidharatha Mishra (DIN: 06524169) as an Additional Director and further as the Managing Director &amp; CEO of the Company for a period of five consecutive years from October 14, 2026 to October 13, 2031, subject to compliance with applicable laws.
</in-capmkt:ReasonsForActionOfGrantingOrWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals><in-capmkt:EstimatedImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity contextRef="MainI">Please refer above</in-capmkt:EstimatedImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity><in-capmkt:PeriodOfKeyLicenseOrRegulatoryApproval contextRef="MainI">Please refer above</in-capmkt:PeriodOfKeyLicenseOrRegulatoryApproval><in-capmkt:ActualImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity contextRef="MainI">Not applicable</in-capmkt:ActualImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity><in-capmkt:CorrectiveActionsTakenByTheListedEntityPursuantToTheWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals contextRef="MainI">Not applicable</in-capmkt:CorrectiveActionsTakenByTheListedEntityPursuantToTheWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals></xbrli:xbrl>