ICICI Prudential Q3: Flat Profit Stalls Momentum, Assets Under Management Rise

18 Jan 2024 , 10:38 AM

 For the third quarter that concluded in December 2023, ICICI Prudential Life Insurance recorded a flat net profit of Rs 227 crore on Wednesday.

In the corresponding quarter of last year, the company reported a profit of Rs 221 crore.

In a regulatory statement, ICICI Prudential Life stated that during the third quarter of current fiscal year, net premium income grew to Rs 9,929 crore, compared to Rs 9,465 crore during the same period last year.

According to the statement, the company’s assets under administration rose to Rs 2,86,676 crore at the end of the third quarter of the previous fiscal year, up from Rs 2,51,884 crore.

On December 31, 2023, the company’s net value was Rs 11,075 crore, and its solvency ratio was 196.5% as opposed to the required minimum of 150%.

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