'ICICI Prudential Life Insurance Company has recorded 9% increase in net profit to Rs 225.4
crore in the quarter ended June 2024 (Q1FY2025). The total premium income has increased
12% to Rs 8,284 crore in Q1FY2025, driven by 4% rise in the renewal premium
collection to Rs 4,515 crore. The new business premium increased 24% to Rs 3,769
crore. APE moved up 34% to Rs 1,963 crore.
The
company has exhibited an improvement in the persistency level with 13th month
persistency rising to 90% in Q1FY2025 from 86% in Q1FY2024, while 61st month
persistency also rose to 65% from 64%.
The
value of new business (VNB) rose 8% to Rs 472 crore in Q1FY2025. New business
margin for FY2024 stood at 24.00% showing decline on sequential basis from 24.60%
for FY2024 and over a year ago from 30.00% in Q1FY2024.
The
embedded value surged 19% Rs 43034.4 crore end June 2024.
AUM
of the company increased 16% to Rs 308,875 crore end June 2024 fr...
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