ICICI Prudential's new biz premium rises to Rs892cr in August; annualized premium equivalent to Rs494cr

From April - August 2020, the company's new business premium stands at Rs3,241cr.

Sep 09, 2020 04:09 IST India Infoline News Service

ICICI Prudential Life Insurance
ICICI Prudential Life Insurance has announced its performance for August 2020, where the NBFC has recorded a rise in new business premium on a sequential basis.

According to the regulatory filing, ICICI Prudential recorded a new business premium of Rs892cr compared to Rs849cr seen in July 2020. It stood at Rs1,499cr during the first quarter ending June 2020 (Q1FY21).

From April - August 2020, the company's new business premium stands at Rs3,241cr.

Further, ICICI Prudential's data showed that annualized premium equivalent (APE) stood at Rs494cr in August against Rs441cr in July 2020. APE comes at Rs1,758cr so far in FY21.

An upside was also witnessed in retail weighted received premium (RWRP) which stood at Rs406cr in the month under review compared to Rs381cr recorded in July 2020. So far in FY21, RWRP is at Rs1,442cr.

On Sensex, the stock finished at Rs434.40 per piece down 1.72%. The stock has touched an intraday high and low of Rs441.45 per piece and Rs431.60 per piece respectively. 

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